According to the Daily Mail, Wolves have to sell Neto to comply with Financial Fair Play regulations and the money brought in could be used to overhaul Gary O'Neil's squad ahead of the new campaign.
The Midlands club will demand more than the £53m they received from Manchester City for Matheus Nunes last summer and any sale of the Portuguese winger is expected to cost an interested party over £60m, reports The Standard.
Man City, Arsenal, Liverpool and Tottenham are all interested in the 23-year-old, states the report, but Stan Collymore believes the Premier League champions are the obvious choice for the Wolves star.
Pedro Neto has been linked with a move away from Wolves
Writing in his latest exclusive column for CaughtOffside, Stan Collymore has stated that Man City is a "no-brainer" if Neto is to leave Wolves at the end of the season as the Manchester club will guarantee the player trophies.
"There were reports this week that Pedro Neto could leave Wolves this summer and there is only one place he should go and that is Man City," the pundit said.
"If Man City are in the conversation for Neto this summer and they were to win the Champions League and the Premier League again, it will be a no-brainer from the player's point of view. The Manchester club could even use Nunes to lure his former teammate to the Etihad by telling him how great it is there and how much better he will get under Pep Guardiola's watch.
"I have always felt that players want to join clubs where they have the best chance of winning trophies and that is a certainty at Man City."
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