Romano confirms Chelsea have agreed a £54m deal with Wolves to sign Pedro Neto.
The deal, which was agreed on Friday, is broken up into an initial £51.4m payment plus £2.6m in add-ons.
The player is understood to be travelling to London for a medical. Neto has also been of interest to Tottenham this summer.
When does the summer transfer window open and close?
The 2024 summer transfer window officially closes on August 30 at 11pm UK time in the Premier League and 11.30pm in Scotland.
The Premier League has brought forward Deadline Day to link up with the other major leagues in Europe. The closing dates were set following discussions with the leagues in England, Germany, Italy, Spain and France.