Chelsea sign Pedro Neto in $68.8 million deal: Here's what it means for Enzo Maresca's Blues

The former Wolves man is the latest talent to arrive at Stamford Bridge

By James Benge Aug 11, 2024 at 11:47 am ET• 2 min read

Chelsea have completed the signing of Pedro Neto from Wolverhampton Wanderers in a deal worth up to $68.8 million. The Portuguese winger was unveiled at halftime of his side's pre-season friendly against Inter and has signed a seven-year contract.

The Blues stole a march on Tottenham on Friday morning, agreeing a deal worth a guaranteed $65.6 million with a further $3.3 million in potential add-ons. Chelsea had seen two offers rejected earlier in the window, one a player-plus-cash deal that was also offered by Tottenham, per CBS Sports sources. 

Wolves ultimately concluded that the guaranteed fee, which eclipses the club record return they got from Manchester City for Matheus Nunes 12 months ago, was too good to turn down. Neto delivered nine assists in just 20 games for Gary O'Neill's side last season, the injury problems that have hindered him throughout his early career rearing their head again.

In total, Neto has suffered seven separate injuries that forced him to miss games since joining Wolves from Braga in 2019, the most notable a serious knee issue that sidelined him from April 2021 until late February 2022. On two separate occasions last season, the 24-year-old was sidelined for around two months with hamstring injuries. Only in 2020-21 did he start more than half of Wolves' league games.