Chelsea have agreed a permanent deal worth up to £46.3m with Atletico Madrid to sign Joao Felix, which means Conor Gallagher’s transfer to the Spanish club is back on.
Felix is understood to be joining Chelsea for a £42m fixed fee, plus £4.3m in add-ons, which could make the transfer eventually worth in excess of £46m.
The 24-year-old forward is scheduled to undergo a Chelsea medical on Tuesday and is expected to sign a six-year contract that includes the option for a further year.
The Portugal international was not named in the starting XI or on the bench for Atletico Madrid’s LaLiga away game against Villarreal on Monday night after originally being included in the travelling squad.
The funds Atletico receive for Felix from the Blues will allow them to complete a deal for Gallagher.
Gallagher’s £36m move to Atletico looked to have fallen through following the collapse of Chelsea’s move for Atletico striker Samu Omorodion.
But the Spanish club remained determined to sign the 24-year-old England midfielder, having been impressed by him during his recent five-day stay in Madrid and how he handled the situation, which only reinforced their desire to have him in their squad.
Gallagher is now in discussions over travel plans to Madrid, but there is no rush considering what happened last time.
He passed a medical and agreed a five-year deal to join Atletico while in Madrid, and had been pictured in the Wanda Metropolitano by the club, before having to return.
Felix spent last season on loan at Atleti’s LaLiga rivals Barcelona where he scored 10 goals in 44 appearances.
He also had six months on loan at Chelsea during the second half of the 2022/23 season, scoring four goals in 16 Premier League appearances.
Felix became the fifth-most expensive player in history when Atletico Madrid paid Benfica £113m for his services in 2019.
When does the summer transfer window close?
The 2024 summer transfer window officially closes on August 30 at 11pm UK time in the Premier League and 11.30pm in Scotland.
The Premier League has brought forward Deadline Day to link up with the other major leagues in Europe. The closing dates were set following discussions with the leagues in England, Germany, Italy, Spain and France.