English Premier League side Chelsea have agreed to a fee in principle with Atletico Madrid for the transfer of 24-year-old forward Joao Felix.
The Portugal international will return to Stamford Bridge on a six-year deal with an option for a further season, subject to a medical.
As part of the deal, England midfielder Conor Gallagher will move to Atletico Madrid on a five-year deal.
The transfer fee for Felix is undisclosed, but it will enable him to rejoin Chelsea after a previous loan spell in 2023.
The move paves the way for Chelsea to focus on player sales before the August 30 deadline and continues their pursuit of Napoli striker Victor Osimhen.
Meanwhile, Napoli has made a second offer to sign Romelu Lukaku on loan with a £25.5m obligation to buy, which is expected to be rejected by Chelsea.
