Chelsea 'getting closer' to next transfer after €117m valuation

18 Aug 2026 08:09 BST | 4 min read

Cameron Smith | Digital Content Producer

Accredited sports journalist covering football since 2020

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Chelsea winger Pedro Neto is reportedly “getting closer” to completing a move to Saudi Pro League side Al-Hilal before the end of the summer transfer window.

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The Portugal international still has five years remaining on his current contract at Stamford Bridge, but he is one of several players who could depart Xabi Alonso’s side on a permanent deal over the next two weeks amid significant transfer interest.

Current ETV

Pedro Neto

F (R), M (RL)

Chelsea

Pedro Neto

F (R), M (RL)

Chelsea

ETV Range

€46.5M - €56.9M

Al-Hilal have earmarked Neto as one of their top targets for the remainder of the summer window, while Manchester City boss Enzo Maresca is also keen to sign the 26-year-old as he prepares for the imminent sale of Savinho to Tottenham Hotspur.

Neto made 52 appearances across all competitions for Chelsea last season, scoring 10 goals, but the club have strengthened their attacking roster with the signings of Morgan Rogers, Geovany Quenda, Danny Welbeck and Emmanuel Emegha this summer, and it’s understood that a sale will be permitted before Deadline Day.

Widespread reports have confirmed that Chelsea value Neto at roughly €117 million (£100m) and despite this lofty figure, Al-Hilal remain eager to finalise a deal for his signature, as confirmed by transfer reporter Nicolo Schira.

He claims that Neto is “getting closer” to completing a move to the Saudi Arabian outfit, with a lucrative long-term contract believed to be on the table.

Al-Hilal signed Crysencio Summerville from West Ham United for €64.5m earlier this summer and they have now set their sights on Neto as they pursue a new right winger before the transfer window closes.

Chelsea are more than happy to keep Neto at the club this summer, and they have not placed him on their ‘for sale’ list, but he is in the same position as both Enzo Fernandez and Malo Gusto - a sale will be accepted if the club’s valuation is met.

Analysis: How much is Pedro Neto worth?

While Chelsea want a fee of €117m to sell Neto before Deadline Day, this far exceeds his Estimated Transfer Value (ETV) of just €51.7m.

However, he has been a reliable performer for Chelsea since his arrival from Wolverhampton Wanderers in 2024 and given the lofty transfer fees paid for the likes of Anthony Gordon and Yan Diomande so far this summer, the Blues unsurprisingly want to maximise their potential profit.

Al-Hilal have also flexed their financial muscle throughout the past few years and Chelsea will be keen to use money from Saudi Arabia to balance the books following the lucrative signings of Morgan Rogers, Maxence Lacroix and Marco Palestra.