Chelsea have beaten off Man Utd and Arsenal to the signing of Joao Felix; Portugal forward becomes Chelsea's fourth January signing, after Benoit Badiashile, David Datro Fofana and Andrey Santos; Atletico allowed Felix to leave due to his difficult relationship with Diego Simeone.
The Blues have beaten Premier League rivals Manchester United and Arsenal to the signing of the Portugal forward, with neither side willing to pay the €11m (£9.69m) loan fee.
Atletico have said Felix has agreed to extend his deal with the Spanish club by one year.
Felix travelled to London on Tuesday to undergo a medical ahead of joining Chelsea for the rest of the season.
The 23-year-old becomes Chelsea's fourth signing of the month following the arrivals of Benoit Badiashile, David Datro Fofana and Andrey Santos.
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