The Portugal international had summer interest from several Premier League clubs, including Manchester City, but indicated a desire to stay and play for Xabi Alonso. Neto has scored twice in five appearances this season under Alonso and has registered 40 goal involvements since joining from Wolves for £54m in 2024. He follows other leading players at Chelsea in signing new deals, including João Pedro, Reece James, and Moisés Caicedo, who have received improved terms this year.
Neto's determination to stay contrasted with the stance of Enzo Fernández, who was sold to City for £125m during the transfer window. Fernández was banned for two games by Chelsea after criticising the departure of Enzo Maresca as head coach. Chelsea's owners have a strategy of giving lengthy incentivised contracts, and Neto's new deal is a reward for his strong start to the season and commitment to the club.
Neto will receive a pay rise as part of his new contract, and his signing is seen as the latest evidence that key players have bought into the project and will be rewarded.