Chelsea have reached a verbal agreement to sign Joao Felix on loan from Atletico Madrid.
Sportsmail understands that Chelsea will pay a loan fee of around £9m, which is well below the £13.25m Atletico initially wanted, and they will cover his wages for the rest of the season.
Felix has been linked with Manchester United and Arsenal but Chelsea's project is reportedly appealing to him.
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Transfer News RECAP: Latest deals and rumours in January window 12.