Chelsea have increased their asking price for winger Pedro Neto to close to £100 million, after Manchester City, Arsenal, and Tottenham all registered interest in the Portuguese wide man, according to reports from Metro and the Daily Mail.

The Blues originally placed a £70 million tag on Neto, but the hierarchy at Stamford Bridge has revised that figure sharply upward. Chelsea's reassessment comes after the wider transfer market provided a fresh benchmark — Yan Diomande joined Real Madrid for £120 million, while Paris Saint-Germain are reportedly quoting £145 million for Bradley Barcola.

A busy summer fuelling the decision

Chelsea's willingness to part with Neto is driven by the club's recruitment activity. The arrivals of Morgan Rogers, Geovany Quenda, and Emmanuel Emegha have added further depth to an already stacked attacking unit, making Neto — despite his £54 million arrival from Wolverhampton Wanderers in 2024 — expendable in the short term.

Neto, 26, has made over 100 appearances for Chelsea since his move from Wolves, but the winger has been considered below expectations at Stamford Bridge. He did reach double figures for goal contributions last season, though that came across a demanding 52 appearances.

The suitors and their motivations

Manchester City are understood to be the most heavily linked club. Enzo Maresca — who managed Neto during his time in charge at Chelsea — is eager to bring the winger to the Etihad. Maresca publicly called on his club's hierarchy to strengthen the squad following City's 3-0 defeat to Premier League champions Arsenal in Sunday's Community Shield.

Arsenal's interest in Neto dates back to his time at Wolverhampton Wanderers. The Gunners have reignited that pursuit after their attempt to sign Vinicius Junior from Real Madrid fell through. Arsenal boss Mikel Arteta, however, stated after the Community Shield that his immediate transfer focus had shifted to defensive reinforcements.

Tottenham have also entered the picture, making a formal approach for Neto as they continue an ambitious spending drive under new head coach Roberto De Zerbi.

Saudi Pro League interest adds pressure

The spike in Chelsea's valuation was also prompted by strong reports linking Neto with a move to Al Hilal in the Saudi Pro League — with some sources claiming the player has already agreed personal terms. Chelsea's hierarchy appear to have viewed that interest as further evidence that the £70 million figure undervalued their asset.

The summer window is moving rapidly, and with multiple Premier League clubs and Saudi interest converging on one player, Chelsea are in a strong negotiating position — though whether any club will meet the new £100 million asking price remains to be seen.