Chelsea unveil Pedro Neto as latest summer signing after sealing £54m transfer

Chelsea have announced the signing of Pedro Neto from Wolves.

The Portuguese winger emerged as a surprise target for the Blues on Friday with news that a deal worth an initial £51.4million, plus a further £2.6m in bonuses, had been agreed.

Such a shock move progressed quickly, with Chelsea officially confirming the arrival of Neto during half-time of their final pre-season friendly against Serie A winners Inter Milan at Stamford Bridge on Sunday - new boss Enzo Maresca’s first home match in charge of the club.

The 24-year-old was paraded to fans on the pitch during the break having penned a seven-year contract in west London lasting until 2031.

He is expected to begin training with his new team-mates at Cobham in the days ahead, with Chelsea opening the new Premier League season with the visit of reigning champions Manchester City to the Bridge next Sunday (August 18).

“I feel really grateful to have joined this club,” Neto said. “I have worked really hard in my career to be here and I’m looking forward to getting on the pitch with this shirt.”

Chelsea have beaten Tottenham to Neto’s signature after both clubs saw player-plus-cash deals rejected by Wolves. Arsenal were previously understood to be long-term fans of the player.

The deal adds another wide attacking option to Maresca’s squad alongside the likes of Raheem Sterling, Mykhailo Mudryk, Cole Palmer and Noni Madueke.

Chelsea’s spending will surpass the £250m mark with the recent agreements for Atletico Madrid striker Samu Omorodion and Genk goalkeeper Mike Penders to join Kiernan Dewsbury-Hall, Filip Jorgensen, Marc Guiu, Aaron Anselmino, Omari Kellyman, Renato Veiga, Caleb Wiley and Tosin Adarabioyo in signing this summer.