Arsenal target Pedro Neto could cost over £60million, with Wolves holding out for a club-record fee for the in-form 23-year-old forward.

Neto has produced two sensational performances against Manchester United and Chelsea this month and is attracting interest from big Premier League clubs.

Tottenham and Liverpool also among his admirers. Wolves will demand more than the £53m they received from Manchester City for Matheus Nunes last summer.

The Molineux club have made well over £100m profit from player trading this season, which has put them in a strong position with Premier League profit and sustainability rules.

Neto will also still have three years left on his contract in the summer. The Portugal international is back at the peak of his powers, having scored three goals and provided eight assists in his 18 matches in all competitions this season.

He previously spent almost a year out between April 2021 and February 2022 after a major knee injury, and has since overcome two smaller injury setbacks to his ankle and hamstring.

Neto looks ready to take the next step to an elite club and could attract a bidding war.

Mikel Arteta is a long-term admirer of Neto and Arsenal are expected to sign at least one forward this summer, despite Arsenal blowing West Ham away in a 6-0 away win last weekend.

That victory improved their goal difference but they have still been outscored by title rivals Manchester City and Liverpool.

A run of scoring less than one goal per game between December 6 and January 7 previously weakened their efforts to win the Premier League for the first time since 2004.