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Chelsea transfer news: Joao Felix signs for Blues on loan from Atletico Madrid

Chelsea have signed Atletico Madrid striker Joao Felix on loan for the rest of the season for a fee of 11 million euros (£9.7m).

Arsenal and Manchester United had been linked with the 23-year-old but he favoured a move to the Blues.

The Portugal international has also signed a one-year extension to his Atletico contract until June 2027.

"Chelsea is one of the great teams in the world and I hope to help the team reach their objectives," said Felix.

"I am very, very happy to be here and very excited to play at Stamford Bridge.