Man City and Newcastle target Pedro Neto – but Wolves demand £60m

Wolves are ready to demand a club record £60 million for Pedro Neto, who is a summer target for Manchester City and Newcastle.

Neto is facing an uncertain future as Wolves brace themselves for offers for the Portugal winger, but the club will seek a huge fee despite his issues with injuries this season.

Wolves are under no pressure to raise money to avoid breaching the Premier League’s profitability and sustainability rules this summer, after their £140 million-plus sales last year.

Matheus Nunes, Ruben Neves, Raúl Jiménez, Nathan Collins and Conor Coady were the high-profile exits last summer as Wolves took drastic action to prevent breaking the financial regulations.

Yet head coach Gary O’Neil is aware that reshaping his squad ahead of next season will depend on a significant sale, with Neto admired by a number of clubs.

Wolves agreed a record £53 million deal with Manchester City last September for Matheus Nunes and will only consider offers of £60 million for Neto.

Despite the winger’s season being disrupted by two separate hamstring injuries, Neto still ended the campaign with two goals and nine assists.

Wolves believe his value remains very high and will demand a fee that reflects his ability.

Champions Manchester City have been long-term admirers of the 24-year-old, while Newcastle are also interested.

Though Newcastle are understood to be concerned over Neto’s recent injury record, they are keeping a close eye on the situation with uncertainty over the future of Bruno Guimaraes.

Neto returned as a substitute in Wolves’s defeat at Liverpool on Sunday and has paid tribute to O’Neil, who replaced Julen Lopetegui days before the start of the season.

Neto said: “We have to thank him a lot because most of the players have improved individually.

“There was an unbelievable improvement after he came in and we should be thankful for him. The little details made a big difference.

“We cannot be happy with 14th place but the start to the season was how it was. The performances this season showed we can do more.”

Neto remains hopeful of appearing for Portugal at this year’s European Championship.

He played in the 5-0 win over Bosnia and Herzegovina in October but picked up his first injury of the season shortly afterwards.

Neto said: “I hope to play there and work for that every day. This time I am available after the injuries so let’s see what the coach [Roberto Martínez] will do.”