• Joao Felix has a contract until 2026 at Atletico
  • He moved from Benfica to Atletico in 2019
  • Felix had become the fifth-most expensive player when Atletico signed him

Chelsea have reportedly agreed to sign Atletico Madrid striker Joao Felix on loan for the remainder of the 2022-23 season.

Felix, who moved from Benfica to Atletico in 2019 in a big-money move of around $135 million, has a contract with Atletico until 2026. Since the Portuguese striker has failed to justify his price tag and has fallen down in Diego Simeone's pecking order at Wanda Metropolitano, Felix has been linked with a move away from the club for some time now.

Chelsea have beaten their Premier League rivals Manchester United and Arsenal in the race to land Felix for the second half of the 2022-23 season, reported BBC Sport.

The Blues are expected to pay a loan fee of around $12 million to Atletico for 23-year-old Felix, according to The Athletic. Chelsea's decision to bring in Felix has come amid their ongoing tough campaign. The Graham Potter-managed Stamford Bridge side slipped to 10th place in the Premier League table, while they were eliminated from the FA Cup after Manchester City thrashed them 4-0 at Etihad Stadium on Sunday.

Chelsea are very active in the ongoing January transfer window, with the signings of defender Benoit Badiashile and forward Davide Datro Fofana.

Felix became the fifth-most expensive player in history when Atletico signed the then-19-year-old forward from Benfica in 2019.

He was part of the Cristiano Ronaldo-led Portugal side at the FIFA World Cup in Qatar and had scored a goal in five outings. Felix was the third youngest Portuguese player to score at the World Cup (23y 13d) after Ronaldo in 2006 (21y 132d) and Antonio Simoes in 1966 (22y 217d).

Joao Felix headed Atletico Madrid into the lead against Manchester United on Wednesday
Joao Felix (left) is an academy product of Benfica AFP / OSCAR DEL POZO

Felix played twice for Atletico after the World Cup campaign. The young playmaker scored in a 2-0 win against Elche on Dec. 29. He also played 73 minutes in their 1-0 defeat to Barcelona on Sunday.

Felix has made 20 appearances for Atletico this season. He started only in 10 matches, including seven starts in 17 La Liga games. He has contributed with five goals and three assists so far.