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Victor Petkov
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Chelsea can’t stop buying, signs Pedro Neto for $69 million
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The total summer spending for the Blues reaches $236 million

Chelsea has completed the signing of Pedro Neto from Wolverhampton Wanderers for a fee of $69 million. The 24-year-old Portuguese forward has signed a seven-year contract with the Blues, keeping him at Stamford Bridge until 2031. Neto was officially presented to Chelsea supporters during halftime of a friendly match against Inter Milan on Sunday.

Expressing his excitement about the move, Neto said, “I feel really grateful to have joined this club. 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 finalized the deal with Wolves after having two previous bids rejected. The initial payment for Neto will be $65 million, with an additiona l$4 million in potential add-ons. This transfer marks a record sale for Wolves, surpassing the deal for Ruben Neves to Al-Hilal in 2023.

Pedro Neto’s arrival adds to Chelsea’s busy summer transfer activity, which has already seen the club spend around $236 million. The Blues have bolstered their squad with several signings, including midfielders Kiernan Dewsbury-Hall, Renato Veiga, and Omari Kellyman; goalkeeper Filip Jorgensen; defenders Tosin Adarabioyo, Aaron Anselmino, and Caleb Wiley; winger Estevao Willian; and striker Marc Guiu. Chelsea is also reportedly looking to secure deals for Atletico Madrid forward Samu Omorodion and Genk goalkeeper Mike Penders in the coming days.