Chelsea have reached an agreement to sign Portugal winger Pedro Neto from Wolves for £54million.
Standard Sport understands the 24-year-old will join Chelsea for £51.4m plus £2.6m in bonuses.
Neto has made just 51 Premier League appearances across the last three seasons due to a number of injuries, but he was wanted by both Tottenham and Chelsea this month.
Chelsea and Spurs both made player-plus-cash offers on Thursday, but Wolves were uninterested in both proposals. Then Chelsea failed with a straight cash offer that night but were successful with their third bid on Friday.
In total, Neto scored 14 goals and registered 24 assists in 135 appearances for Wolves, joining in 2019 from Portuguese club Braga.
He has earned 10 caps for Portugal, including playing in all three of their group games at Euro 2024.
Chelsea have already splashed the cash this summer, with Tosin Adarabioyo joining from Fulham, Marc Guiu from Barcelona, Omari Kellyman from Aston Villa, , Kiernan Dewsbury-Hall from Leicester City, Renato Veiga from Basel, Caleb Wiley from Atlanta United and Aaron Anselmino from Boca Juniors.
Teenage goalkeeper Mike Penders is set to join from Genk too.
