Chelsea can't stop spending! Blues set to sign Pedro Neto from Wolves as clubs agree €63m package for Portuguese winger

As first reported by Fabrice Hawkins, winger Neto is set to swap Wolves for Chelsea. Talks are at a final stage between the two teams, the Portuguese international wants to join and there is an agreement in principle. The Athletic adds that he could join for £54m (€63m) in total and the 24-year-old will undergo a medical shortly.

Chelsea have already signed eight players this summer transfer window, taking their spending to approximately £110m ($140m). And while Neto could be an excellent recruit for the Blues, they are not short of wingers; with Raheem Sterling, Mykhailo Mudryk, Noni Madueke, Angelo, and Diego Moreira currently on their books. Plus, Cole Palmer can play out wide so this arrival may lead to a possible exit or more unrest in an already-bloated squad.

Since Neto signed for Wolves from Braga in the summer of 2019, he has scored 14 goals and bagged 24 assists in 135 matches. He has spent fairly lengthy spells on the sidelines, however, due to knee, ankle, and hamstring injuries.

Neto may be unveiled as a new Chelsea player before Sunday's pre-season friendly against Inter at Stamford Bridge. If not, though, he could make his debut against defending Premier League champions Manchester City on August 18 - so long as the transfer goes through.