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The Houston Dynamo signed Argentine midfielder Tomas Martinez as a young designated player on Monday.
Neves has signed a five-year deal, and although Wolves did not confirm the size of the fee they said it was a club record.
Jeremy Mathieu has completed a move to Sporting Lisbon after Barcelona agreed to rescind his contract with the club.
Former Spain goalkeeper Iker Casillas has ended speculation over his future by agreeing a one-year extension to his contract at Porto.
Reports in Portugal claim the Londoners have had an opening bid of £17 million rejected with Sporting holding out for £30m.
Barcelona defender Jeremy Mathieu has been dealt another injury setback after the club confirmed he will be missing for up to 20 more days.