Chelsea have officially confirmed the £54 million signing of Portuguese winger Pedro Neto from Wolves, marking yet another significant addition to their squad under the ownership of Todd Boehly.
Neto, who has been one of Wolves' standout performers despite struggling with long-term injuries last season, was warmly introduced to Chelsea fans at Stamford Bridge during halftime of their pre-season friendly against Inter Milan.
"I feel really grateful to have joined this club," said Neto. "I have worked really hard in my career to be here and I’m looking forward to getting on the pitch with this shirt."
The 24-year-old made his first public appearance in Chelsea colours, receiving an enthusiastic reception from the crowd, signalling the high expectations placed on him as he joins the Blues.
The signing of Neto highlights Chelsea's aggressive transfer strategy under Boehly, who has spent over £1 billion on new players since taking over the club just two years ago. Chelsea initially faced resistance from Wolves, with two bids for Neto being rejected before an agreement was finally reached.
The deal, structured as an initial £51.4 million payment with additional add-ons, adds to Chelsea's already substantial summer spending, which now totals £199 million. Despite Neto's injury history, which saw him miss over 100 days of competitive football last season due to hamstring issues, Chelsea's management remains confident in his ability to make a significant impact.
Neto's departure from Wolves is a significant loss for the Molineux-based club, especially with the new Premier League season just around the corner. Wolves manager Gary O'Neil had hoped to retain his star player as they prepare to fight for Premier League survival. However, the funds from Neto's transfer could allow Wolves to strengthen their squad in other areas.
Meanwhile, Neto's arrival at Chelsea makes him the ninth new player added to the squad this summer, as the club aims to rebound from a disappointing previous season. The Portuguese winger could face his former team sooner than expected when Chelsea takes on Wolves on August 25, in what promises to be an emotional and competitive encounter.
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