The Blues value Neto at nearly £100m and are reluctant to sanction a sale otherwise, even as interest in the 26-year-old continues to build across Europe. Chelsea are not actively looking to move the winger on this summer, and it was reported last month that no concrete talks had yet taken place over a potential departure.
Neto has featured prominently for Chelsea throughout preseason since returning from his break following the World Cup. He started all five of Portugal's matches at the tournament as they were eliminated in the last 16, without registering a goal and providing one assist.
Chelsea's valuation of Neto has been shaped by an inflated winger market elsewhere in Europe this summer.
He has been linked with Saudi Pro League side Al-Hilal, as well as with Manchester City and Tottenham earlier in the window. No formal bid has yet been submitted for the player, and reports last month that Tottenham had made an enquiry over his availability were disputed by sources close to both clubs.
Manager Xabi Alonso has also experimented with Neto in a different role, using him as a right wing-back in a back-three system during Chelsea's preseason finale against Real Sociedad. Whether that becomes a more permanent fixture of his game this season remains to be seen, though it offers the club another route to keeping him involved even amid the swirl of transfer interest.
Neto joined Chelsea from Wolverhampton Wanderers in the summer of 2024 in a deal worth close to £54 million, having established himself as one of the Premier League's most productive wingers during his time at Molineux.
He scored five goals and provided six assists in the Premier League last season, numbers that have not always matched the promise he showed on his arrival at Stamford Bridge but which have not deterred interest from elsewhere in Europe.
Chelsea's stance reflects a wider trend across the market this summer, with several clubs setting valuations for wide players well in excess of £100 million, a benchmark the west London club appear keen to hold Neto to as talks over his future continue.