Chelsea confirmed the signing by Pedro from fellow Premier League club Wolverhampton Wanderers.

The Blues announced the deal, which is estimated to be worth around £54 million including benefits, during half-time of their friendly against Inter at Stamford Bridge.

“I’m really grateful to have joined this club,” said Neto. “I’ve worked really hard in my career to be here and I’m looking forward to taking to the pitch wearing this shirt.”

The 24-year-old began his professional career at Braga and spent two years on loan at Lazio from the age of 17. However, it was a transfer to Wolves in 2019, when he was still a teenager, that propelled him forward. Neto made 135 appearances for the West Midlands side, helping them to seventh place in the Premier League and reach the quarter-finals of the Europa League in his debut year.

Neto would have played more had he not been sidelined by a long-term knee injury and several other significant absences. He overcame a thigh problem at the end of last season just in time to be named in Portugal’s Euro 2024 squad in the summer.

The player is Chelsea’s ninth signing this summer and, at 24, is at the upper end of the age group that the club’s sporting department focuses on.

Neto is expected to begin training with his new teammates in the coming days and could therefore be in the running for a place when the Blues open their 2024/25 Premier League season with a match against champions Manchester City on August 18.