Chelsea have finalized the signing of Portugal forward Joao Felix from Atletico Madrid for approximately £45 million. As part of the deal, England midfielder Conor Gallagher is transferring to Atletico Madrid for around £33 million.
Felix, 24, has agreed to a seven-year contract and returns to Stamford Bridge after a loan spell in the 2023 season where he scored four goals in 20 appearances.
Felix expressed his enthusiasm about rejoining Chelsea, stating, "I’m really happy to be back at Chelsea and I can’t wait to get started. I can see some familiar faces from the last time I was here, which is always nice."
Gallagher, who has signed a five-year contract with Atletico Madrid, joined Chelsea at the age of six and made 90 appearances, scoring 10 goals. Chelsea chose to sell Gallagher, who was in the final year of his contract, to avoid losing him on a free transfer next summer.
Gallagher thanked Chelsea in an Instagram post, saying, "To everyone at Chelsea, thank you for making my dreams come true. It's been an absolute honour every time I put on the shirt, and it was a dream come true to captain the team on many occasions. I loved every moment. These memories will last forever. I appreciate all the love and support from the fans."
The delay in Gallagher's move was due to the collapse of talks to sign Atletico striker Samu Omorodion. However, Felix's transfer has provided the necessary funds for Atletico to complete Gallagher's acquisition.
Gallagher had a brief stay in a Madrid hotel earlier this month while awaiting the transfer, before returning to London when the move stalled. He previously had loan spells at Charlton, Swansea, West Brom, and Crystal Palace before establishing himself in the Chelsea first team at the start of the 2022-23 season.
Gallagher has earned 18 caps for England since his debut in 2021 and was part of the squads for the 2022 World Cup and Euro 2024.
The transfer saga has concluded with Gallagher's departure to Atletico Madrid, avoiding the potential dissatisfaction of Chelsea fans had he moved to a Premier League club. Chelsea has acknowledged Gallagher's contribution with a video highlighting his bond with the club.
Gallagher will now focus on his football career in Spain, where he could adapt well to Diego Simeone's high-energy, physical style of play.
