Chelsea & Atletico Madrid Agree Swap Deal: Felix Returns, Gallagher Heads to Spain

Chelsea and Atletico Madrid have reached an agreement in principle for the transfer of Joao Felix, with Conor Gallagher moving in the opposite direction as part of the deal.

The fee for the 24-year-old Portuguese forward remains undisclosed, but it will see him return to Stamford Bridge on a six-year contract, with the option for a further season. Felix's move, which is subject to a medical, will bring him back to west London following his 2023 loan spell with Chelsea. During his previous stint at the club, he scored four goals in 20 appearances.

Meanwhile, England midfielder Gallagher is set to join Atletico on a five-year deal. He had been training independently at Chelsea's Cobham training ground after being left in a state of uncertainty for a week. The collapse of Chelsea's negotiations to sign striker Samu Omorodion had delayed Gallagher's £33 million transfer to Madrid, as Atletico needed to raise funds for the move by selling a first-team player.

Felix's return to Chelsea paves the way for Gallagher to sign at the Wanda Metropolitano Stadium. Nine days ago, he was pictured at the stadium in anticipation of the move, before a delay forced him to return to London last Tuesday.

With the transfer deadline looming on 30 August, Chelsea will now focus on player sales, although they remain interested in Napoli striker Victor Osimhen. The Italian club continue their efforts to sign Romelu Lukaku, who remains on Chelsea's books but has no future at Stamford Bridge.

Napoli have reportedly made a second offer to sign Lukaku on loan with a £25.5 million obligation to buy. However, this offer is expected to be rejected, falling short of Chelsea's asking price of around £35 million.