Chelsea set to complete another massive signing as fans left stunned by contract 'agreement'

Chelsea have reached an agreement to sign Joao Felix from Atletico Madrid on a permanent transfer.

Chelsea have spent £1.5 billion on new players since Todd Boehly and Clearlake Capital took over the club in 2022, but they certainly aren't finished there.

According to The Athletic, Felix has agreed personal terms and will sign a six-year contract with the Premier League side, with the option of an additional 12 months.

The 24-year-old joined Chelsea on loan for the second half of the 2022-23 season, making 20 appearances and scoring four goals.

Felix spent last season on loan at Barcelona, where he scored 10 goals and registered six assists in 44 games.

Before joining Barcelona, Joao Felix extended his Atletico contract which now runs until June 2029.

The Portugal international joined Atletico from Benfica in 2019 in a deal worth €126m (then £113m) but scored just 34 goals in 131 matches for Diego Simeone's side.

The deal should facilitate the sale of Conor Gallagher to Atletico, after his proposed move hit a snag last week.

The two clubs agreed a £36m package and the player flew to Madrid to complete the move, but the deal hinged on Chelsea signing Samu Omorodion from the Spanish club.

That deal fell through after Chelsea and the player's camp failed to agree on contract terms, leaving Gallagher in a state of limbo.

Felix will become the tenth addition to Enzo Maresca's squad this summer and will take the club's spending this transfer window to over £200m.

Chelsea already have a bloated squad, something Maresca alluded to when he left Raheem Sterling out of his squad for Sunday's 2-0 defeat to Manchester City on the opening weekend of the Premier League season.