Fans of Premier League clubs never have a greater appetite for new signings than right now.
The clock is ticking down towards the transfer deadline. The January window is fine as it goes, but the big deals tend to happen right now.
Kudos to market renegades Chelsea. therefore, for moving towards completing a €50 million deal for a LaLiga-based forward and drawing reactions ranging from a shrug to outright bafflement.
Joao Felix is heading back to Stamford Bridge, more than a year on from wrapping up a loan spell that brought scant demand for an encore. So what’s going on?
Why are Chelsea signing Joao Felix?
This transfer is bound up with Atletico’s deal to sign Conor Gallagher and the value represented by the Cobham Academy product when it comes to Chelsea balancing their books.
Gallagher was one of the few indisputable success stories during the 2023/24 season at Stamford Bridge, establishing himself as a mainstay in central midfield under Mauricio Pochettino and captaining his boyhood club.
However, the 24-year-old was into the final year of his contract and, as Chelsea’s transfer flurry in the Clearlake era continues, there are financial imperatives to address.
Chelsea’s participation in the UEFA Conference League this season means they are subject to the financial sustainability regulations (FSR) of European football’s governing body, along with the Premier League’s profit and sustainability rules (PSR). The UEFA regulations only allow losses of €80million (£68.5m/$86m) for the 2024/25 monitoring period.
As a graduate of the club’s youth system, the transfer fee received for Gallagher invaluably counts as “pure profit” on Chelsea’s books. Despite the England international’s fine recent form, the Blues have spent particularly heavily in central midfield. Kieran Dewsbury-Hall joined for £30m from Leicester City to be reunited with Enzo Maresca this summer, joining Enzo Fernandez, Moises Caicedo and Romeo Lavia who all arrived at more lavish expense last year.
Which is all easy enough to follow, but why does it mean Chelsea need another support attacker (of which they have plenty) who has previously failed for them? Well, perhaps they don’t, but Atletico needed spending money.
A proposed deal to take striker Samu Omorodion from Atletico to Chelsea collapsed during contract negotiations. That left Gallagher, who was photographed at Atleti’s Wanda Metropolitano Stadium, in limbo. Enter Joao Felix to grease the wheels.
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Joao Felix transfer fee, contract at Chelsea
According to The Athletic and BBC Sport, Joao Felix will join the ranks of long-term contractees at Stamford Bridge by putting pen to paper on a six-year deal with the option of an additional 12 months.
An undisclosed transfer will be worth an initial £42m, with a further £4.3 possible in add-ons, as per Sky Sports. Under Premier League and UEFA rules on amortization, this fee can be split over the next five years on Chelsea’s books, while a reported £34m for Gallagher will be added to this year’s calculations as a lump sum.
When Joao Felix joined Atletico Madrid from Benfica in 2019, the €126m fee made him the fourth-most expensive player in football history — a position he retains on the all-time list.
What happened to Joao Felix at Barcelona?
After his largely fruitless loan spell at Chelsea, Joao Felix signed for Barcelona on a season-long loan in 2023/24.
He scored 10 times in 44 appearances across all competitions, with three goals in nine Champions League outings and seven across 30 in LaLiga. In those two competitions, only 22 of his appearances were starts.
By the end of the campaign, Joao Felix was an increasingly marginal figure under head coach Xavi. His final goal for the club on April 13 to secure a 1-0 win at Cadiz was also his last start and he only featured as a substitute during the knockout rounds of the Champions League.
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What is Joao Felix's best position?
Joao Felix predominantly played on the left wing for Barcelona last season, leading to unfairly unflattering comparisons as Lamine Yamal tore things up on the right flank.
If there is one thing Chelsea don’t need more of, it’s wide attackers. This was most recently highlighted by Raheem Sterling’s shock omission from the matchday squad for the opening 2-0 defeat to Manchester City in the Premier League.
Cole Palmer has the right-wing locked down after his incredible individual campaign in 2023/24, or at least he did before Chelsea made Pedro Neto their eighth summer signing. Noni Madueke and Mykhailo Mudryk were each unused substitutes as Christopher Nkunku started on the left against City and Sterling was out in the cold.
It’s far from ideal, especially when joining a squad so bloated with talent as Chelsea’s, that for all his technical gifts Joao Felix’s best position remains a matter of debate. His lack of electric pace means there are arguments against playing him on the wings, while a slight frame hardly makes him an ideal centre-forward.
Most of his loan spell at Chelsea under Graham Potter and then Frank Lampard came through the middle and this looks like the area where he is most likely to have the chance to thrive. Nicolas Jackson once again showed his raw talent and wastefulness against City, with Chelsea still lacking a true specialist at centre-forward. Nkunku will probably get his shot at the centre of the attack in due course, with a sustained injury nightmare hopefully now behind the Frenchman.
Former Barcelona youngster Marc Guiu came off the bench on the opening weekend of the Premier League season. He scored twice in seven senior appearances for the Blaugrana – once against Royal Antwerp in a Champions League group game where Joao Felix was an unused substitute and then to secure a late 1-0 win over Athletic Bilbao thanks to an assist from the Portugal international. Sure, you have to squint but maybe there’s something for Maresca to rekindle.
Joao Felix stats in first spell at Chelsea
That’d be just as well as there’s not an awful lot to write home about when assessing Joao Felix’s first spell at Chelsea, which remains best remembered for a sparkling debut against Fulham being curtailed by a straight red card.
During his half-season, Joao Felix under-performed his xG and did not provide a single assist.
Joao Felix Chelsea stats 2022/23
| Games played | 20 |
| Games started | 14 |
| Minutes played | 1,188 |
| Goals | 4 |
| Assists | 0 |
| Chances created | 9 |
| Total shots | 59 |
| Shots on target | 21 |
| Shot conversion rate | 6.78% |
| Expected goals (xG) | 6.44 |
| Minutes per goal | 297 |