Chelsea have reached an agreement with Atletico Madrid to sign Joao Felix on loan, MySportDab reports.
The Blues will reportedly pay a loan fee of around £9m, which is well below the valuation of the player by Atletico Madrid.
Atletico Madrid are reportedly pegging the Portuguese star at £13.25m but have agreed verbally with the Blues for the deal.
However, for any possible loan move to happen, interested clubs must be ready to cover his wages as part of the clause of the deal.
Joao Felix made it clear after he fell out with Atletico Madrid boss Diego Simeone that he wants to leave the club.
He has started in just a few games for the club this season and was prepared to leave the club after joining from Benfica in 2019.
Manchester United were leading the race to sign the Portuguese but were not willing to meet the terms and conditions of the loan deal as set by Atletico Madrid.
The Red Devils backed off and instead focused on Dutch and Burnley forward Wout Weghorst.
Arsenal were also interested in the deal with former Atletico Madrid star Thomas Partey hoping to convince his former teammate to join him at the Emirates
Now, Chelsea have hijacked the deal, and have reportedly reached a verbal agreement with Atletico Madrid to sign the Portuguese on loan.
Chelsea are struggling to find their feet this season and have struggled up front in recent games, managing just three goals in the last eight games
Felix is expected to be the latest signing af the club announced the signings of Benoit Badiashile, David Datro Fofana, and Andrey Santos.