Chelsea have reached an agreement to sign Pedro Neto from Wolverhampton Wanderers, according to The Athletic.
The West London club will pay a fee of €60 million (£51.4 million), with an additional €3 million in potential bonuses, to secure Neto’s services.
The 24-year-old winger is expected to undergo a medical shortly.
Neto racked up 20 Premier League appearances for Wolves last season, despite being sidelined twice due to hamstring injuries.
He recorded two goals and nine assists during the campaign. He regained full fitness by the end of the season and was included in Portugal’s squad for the European Championship.
Although he appeared in all three of their group-stage fixtures, he remained an unused substitute in both the round of 16 and quarter-final matches.
Since joining Wolves from Braga in 2019, Neto has made 135 appearances for the club.
However, injuries have limited his playing time, preventing him from featuring in more than 25 games in a season since the 2020-21 campaign.
Neto’s contract with Wolves runs until the summer of 2027, following his signing of a new five-year deal in March 2022.
That summer, Arsenal had shown strong interest in Neto, considering him their top target if Ivorian winger Nicolas Pepe were to leave the club.
Although Pepe eventually joined Nice on loan later in the transfer window, Neto remained at Wolves.
Arsenal, Liverpool, Manchester City, and Newcastle United were reportedly all admirers of Neto back in February, who was having a standout season with Wolves.
Unfortunately, he sustained a second hamstring injury the following month, causing him to miss nine Premier League matches.
He returned as a substitute for Wolves’ final game of the season, providing an assist in their 4-2 victory at Stamford Bridge.
This summer, Chelsea have been active in the transfer market, signing Tosin Adarabioyo from Fulham, Omari Kellyman from Aston Villa, Marc Guiu from Barcelona, Kiernan Dewsbury-Hall from Leicester City, Renato Veiga from Basel, Caleb Wiley from Atlanta United, and Aaron Anselmino from Boca Juniors.
Additionally, they have agreed on a deal to sign striker Samu Omorodion from Atletico Madrid for €40 million.
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