Pedro Neto signs five-year Chelsea deal after choosing to stay

Pedro Neto has signed a new five-year contract with Chelsea, including an option for an additional season, after choosing to remain at the club despite interest from other Premier League teams. The Guardian reported on Friday that the Portugal international will receive a pay rise, with Chelsea rewarding both his performances and his decision to stay and work under Xabi Alonso.

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The 26-year-old has scored twice in five appearances this season, with Alonso deploying him as an attacking wingback. According to the report by Jacob Steinberg, Neto has recorded 40 goal involvements since arriving from Wolves in a £54m transfer in 2024. Manchester City were among the clubs interested during the summer, but Neto indicated that he wanted to continue at Stamford Bridge.

His agreement follows improved terms for João Pedro, Reece James and Moisés Caicedo this year. Cole Palmer signed a new deal in 2024 and reiterated his commitment to Chelsea in a Guardian interview last season. The club's owners favour long contracts containing performance incentives, and the latest renewal continues their practice of increasing players' pay before those lengthy agreements expire.

Neto's decision comes after Chelsea took a different course with Enzo Fernández, selling the Argentina midfielder to Manchester City for £125m in the closing hours of the transfer window. The Guardian reported that initial discussions with Fernández did not lead to a new contract. Chelsea were prepared to retain him if their valuation was not met, before deciding that a sale was the right long-term outcome.

The two players' futures were resolved following a difficult campaign for Chelsea, who finished 10th and failed to qualify for European competition. The club dismissed Liam Rosenior in April and announced Alonso's appointment in mid-May. Fernández's move to City reunited him with Enzo Maresca, who had left Chelsea in January and subsequently succeeded Pep Guardiola at City.

For Neto, the renewal follows an opening stretch of the season in which he has contributed goals in his new manager's system. The Guardian reported that further Chelsea contract renewals are expected to be announced soon, although it did not identify which players would be next.