Pedro Neto is to undergo a medical at Chelsea after Wolves accepted an offer worth £51.4million plus bonuses
It is understood Tottenham tabled bid to rival Chelsea for the 24-year-old forward, who was a long-term target for the north Londoners, but they have been beaten to his signature by their west London neighbours.
Spurs are believed to have submitted a player-plus-cash offer for Neto, involving Oliver Skipp moving the other way to Molineux, but Wolves said no.
Chelsea also made a player-plus-cash offer, including both Trevoh Chalobah and David Datro Fofana, but Wolves batted that away too.
The Blues then tabled a straight cash offer for Neto, which was accepted on Friday.
He is set to undergo a medical on Saturday to complete the move.
The Portuguese star featured 20 times in the Premier League last season, spending periods out due to two separate injuries.
He scored two goals and registered nine assists, attracting interest from Arsenal and Tottenham in the process.
