The Portuguese outfit agreed to pay Rio de Janeiro's Fluminense nine million euros ($12 million) to secure the 20-year-old on a six-year deal, Xinhua news agency quoted Brazil's Globo newspaper as reporting on Friday.
It added that Paris Saint-Germain, Porto and CSKA Moscow had also shown interest in the playmaker.
Wendel played 58 matches and scored seven goals for Fluminense in 2017 after being promoted from the club's youth ranks.
He will reportedly earn 600,000 euros ($720,282) a year plus performance bonuses.
(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)
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