Chelsea struck a deal with Atletico Madrid that will see the Premier League side acquire Portuguese forward Joao Felix.
Felix, who previously had a six-month loan stint with Chelsea in 2023, already agreed to personal terms with London club and is expected to sign a deal until 2030 with a club option for one more year. Atletico will reportedly receive a transfer fee of around €50 million ($55.4 million).
Joao Felix joined Atletico in a club-record $140 million transfer in 2019 from Benfica. While he showed some flashes of big talent while in Madrid, Felix never managed to justify his hefty price tag.
After falling out of favor with head coach Diego Simeone, Felix spent the second part of the 2022-23 campaign with Chelsea before embarking on a year-long loan in 2023-24 with Barcelona. He scored 10 goals and had six assists with the Catalan club in 44 games last season.
The majority of the funds that Atletico receives from Joao Felix’s transfer should return to Chelsea. The Spanish club previously agreed to acquire midfielder Conor Gallagher from the Blues for $46.5 million but didn’t have enough funds to complete the deal.
Curiously, the two clubs were also engaged in discussions earlier this summer that would see Atletico striker Samu Omorodion head to Stamford Bridge. However, the agreement collapsed after unknown issues surfaced with Omorodion’s proposed contract with Chelsea.
