Barca have been watching the Portugal international this season, with their scouts drawing up glowing reports on the winger.
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The Mirror says Barcelona see Neto as an alternative to on-loan Manchester United attacker Marcus Rashford.
Rashford's deal includes a €30m permanent option, though some inside Barca regarded Neto as the superior talent.
Neto has a deal with Chelsea to 2031, with the Blues likely to be reluctant sellers.
