Chelsea have extended Pedro Neto’s contract through 2032 on improved terms, including a pay rise, as Arsenal reportedly pursue the winger ahead of the January transfer window. Manchester City and Saudi club Al-Hilal are also monitoring the 26-year-old, while Chelsea’s valuation has been reported between £60 million and £100 million, with some European outlets citing €70 million to €80 million. Neto joined from Wolverhampton Wanderers for a reported £54 million in August 2024 and has made more than 100 appearances, contributing roughly 40 goal involvements. He has scored twice in five appearances under new manager Xabi Alonso, who has used him in a wing-back role rather than his natural right-sided attacking position. Neto helped Chelsea win the UEFA Conference League and FIFA Club World Cup in 2025.