Wolves confirm Pedro Neto exit as he completes Chelsea move

The winger has penned a seven-year contract at Stamford Bridge in a deal initially worth £51million which could rise to £54million with add-ons.

Injury restricted Neto to just 24 appearances in all competitions last term, although he was still able to contribute three goals and 11 assists.

The Portugal international first arrived at Wolves from Lazio in 2019 and went onto make 135 appearances for the club - registering 14 goals and 24 assists.

Following Neto's departure, Wolves sporting director Matt Hobbs said: "Everyone knows the player Pedro is - he's a world class winger who has been so unlucky with injuries.

"We'll miss him on the pitch obviously, but also around the training ground with his energy and the relationship he had with so many people.

"The deal is one that works for us and Pedro, but by no means does it make it any easier.

"The reason we get players like Pedro is because this is our model and not everyone will love that, but we can take so much credit for the way we bring players in, the way we look after them, the love they develop for the football club and the clubs they're moving on to, for the fees they are.

"For the club, it's the right deal at the right time. It's hard when it's someone who everyone has so much affinity for as a person to look at it as a business, but football is a business and it was the right timing and the right deal.

"So from that perspective, the football club are happy. We've been working on options and on targets and that work keeps going.

"Me and Gary (O'Neil) have sat down several times since, but we were sitting down beforehand and talking about it because I think we thought there was a good chance this would happen this summer."