Chelsea and Wolves have agreed on a £54 million agreement to sign Pedro Neto ahead of the 2024/2025 Premier League season.

The contract, announced on Friday, consists of an initial £51.4 million payment plus £2.6 million in add-ons.

The footballer is said to be going to London for a medical.

Tottenham have also expressed interest in Neto this summer.

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Neto had a fantastic season with Wolves last season, scoring three goals and registering 11 assists despite missing three months due to two different hamstring injuries.

The Portuguese winger, who has ten caps for his country and was chosen to their Euro 2024 team, is expected to join Cole Palmer, Noni Madueke, Mykhailo Mudryk, and Raheem Sterling as wide options ahead of the new season.

Neto would be Chelsea’s ninth summer acquisition, joining Kiernan Dewsbury-Hall, Filip Jorgensen, Omari Kellyman, Aaron Anselmino, Renato Veiga, Caleb Wiley, Marc Guiu, and Tosin Adarabioyo in Enzo Maresca’s team for the next season.

The Blues are reportedly expected to sign Atletico Madrid attacker Samu Omorodion for £34.5 million, while midfielder Conor Gallagher will move in the opposite direction for £36 million.

Chelsea has reportedly expressed interest in Celtic midfielder Matt O’Riley as a possible replacement for Gallagher.