Wolves smash club-record fee with signing of Fabio Silva from Porto

Wolverhampton Wanderers completed the signing of 18-year-old Fabio Silva from FC Porto for a club-record fee on Saturday.

Wolves paid £35 million for the Portuguese striker, according to BBC Sport. The club's previous record signing was Raul Jimenez from Benfica for around £30 million in 2019.

Silva has represented Portugal from Under-15s to Under-19s. He became the youngest league debutant, European debutant, and goal-scorer in Porto's history after being called into the club's senior setup for the 2019-20 campaign.

"We've been following Fabio's development for a long time. He's a player that you only need several minutes to see his natural football talent," said Wolves executive chairman Jeff Shi. "In recent years, Fabio has been developing very fast and now has proven himself in Porto's first team, which is a top squad.

"Our head coach's requirement for quality is very high, but he thinks Fabio is an important signing who will help the team immediately this season."

Silva scored 20 goals in 26 matches for Porto's Under-19 side before earning his promotion into the first-team fold. He's also netted 17 times in 37 outings for Portugal's youth sides - including a hat-trick in a 4-1 win over Italy Under-19s.

He arrives after making 12 appearances during Porto's victorious 2019-20 league campaign. He also scored twice and provided one assist en route to the club's triumph in the Taca de Portugal.

Shi added: "The timing of this deal is similar to the timing of when we bought Ruben Neves; we've waited for the right time to get a high-quality player at the right price."

Silva will join his new teammates in training on Monday. Wolves open their 2020-21 Premier League term at Sheffield United on Sept. 14.