Chelsea have confirmed the £54m signing of Pedro Neto from Wolves.

The Portugal international was spotted in attendance before their pre-season clash with Inter Milan at Stamford Bridge earlier this afternoon.

Then at half-time, Neto was introduced by Chelsea in front of the fans at their home stadium as he received a big cheer from those in attendance.

Neto walked out in Chelsea colours for the first time, before clapping and waving to those at Stamford Bridge.

The 24-year-old battled long-term injuries last season but has been regarded as Wolves' best player and was part of Portugal's European Championship squad in Germany.

Pedro Neto has been confirmed as a Chelsea player as he joins from Wolves for £54m

His arrival continues the trend of chaotic spending by co-owner Todd Boehly who has forked out over £1billion on new players since taking over the club two-years previous.

With the deal completed, Chelsea's summer spending has now gone up to a whopping £199m.

Chelsea initially had two bids rejected for Neto who scored just three goals in 24 appearances across all competitions or Wolves last season. 

The Molineux-based side have since agreed to let their star player leave for Chelsea after accepting an initial £51.4m with the rest of the fee being made up in subsequent add-ons.

Neto's recent injury record gives some cause for concern with the Portuguese talent suffering two similar hamstring injuries last season that saw him miss over 100 days of competitive football before returning towards the end of the season.

Wolves boss Gary O'Neil has been keen to keep hold of his best players with the new Premier League campaign getting underway in just five days time when Man United host Fulham.

However, Neto's departure could pave the way for further incomings as Wolves look to secure their Premier League status for another season.

Meanwhile, his arrival in London will make him Chelsea's ninth signing of the summer transfer window as the club attempts to bounce-back from a disappointing previous season.

Neto could find himself facing his soon-to-be former team in a couple of weeks when Wolves host Chelsea on August 25.

Chelsea meanwhile kick off their league campaign with a tricky home clash against Manchester City next Sunday. 

The Blues this summer have already signed Kiernan Dewsbury-Hall, Filip Jorrgensen, Omari Kellyman, Aaron Anselmino, Renato Veiga, Caleb Wiley, Marc Guiu and Tosin Adarabioyo.