Chelsea have completed the £54 million signing of Wolverhampton Wanderers forward Pedro Neto.
The 24-year-old Portuguese forward has signed a seven-year contract with the Blues, extending until 2031.
Neto was introduced to supporters at Stamford Bridge on Sunday during halftime of a friendly match against Italian side 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.”
Chelsea reached an agreement with Wolverhampton Wanderers on Friday after having two previous bids rejected.
The final deal includes an initial payment of £51.3 million for Pedro Neto, with an additional £2.6 million in add-ons.
Neto, who joined Wolves from Lazio in 2019, scored 14 goals in 135 appearances for the club.
This transfer represents a record sale for Wolves, surpassing the £47 million they received from Saudi Arabia’s Al-Hilal in 2023 for Ruben Neves.
Neto’s arrival brings Chelsea’s summer spending to approximately £185 million.
The club has already signed 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 are also looking to add Atletico Madrid forward Samu Omorodion and Genk goalkeeper Mike Penders in the coming days.