Joao Felix, a forward from Portugal, will join Chelsea permanently after reaching an agreement with Atletico Madrid.
With the option of an additional year, the 24-year-old has agreed to personal terms on a six-year contract.
This was reported last week that the Premier League club and its La Liga counterparts had begun talks to sign Joao Felix.
This occurred as Samu Omorodion, an Atletico Madrid attacker, appeared to be having difficulties concluding his contract, resulting in the collapse of his planned transfer to Stamford Bridge.
Chelsea and Atletico Madrid have recently pursued a deal for England international Conor Gallagher.
The Chelsea midfielder was expected to join Atletico Madrid for €42 million (£36 million; $45.9 million), though the deal has not yet been finalized.
Joao Felix previously played 20 games on loan for Chelsea in the second half of the 2022-2023 season, scoring four goals. The 24-year-old then played 44 games on loan at Barcelona the previous season, scoring 10 goals and assisting six times.
Joao Felix has extended his contract with Atletico Madrid until June 2029 before joining Barcelona. He has 34 goals in 131 games for Spain since joining Atletico Madrid from Benfica in the summer of 2019 for €126 million.
Before returning to Atletico for preseason, Joao Felix, who has 41 caps for Portugal, represented his country twice at the European Championship.
by James Aidoo
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