Madrid, Jan 11 (IANS): Atletico Madrid and Chelsea have both confirmed the agreement for Atletico's 23-year-old Portuguese international forward Joao Felix to play on loan with Chelsea until the end of the season.

The loan is thought to be costing Chelsea around 11 million euros and the club do not have the option to make the move permanent at the end of the campaign.

Indeed, Atletico showed their commitment to the forward by extending his contract until the end of June 2027.

"From Atletico Madrid, we wish success to Joan Felix in this new professional era," informed Atletico social media, highlighting that since his arrival in the summer of 2019, Felix has scored 34 goals in 131 appearances, while providing 18 assists.

His arrival will give more options to Chelsea in attack after a poor run of form has seen the side coached by Graham Potter drop into mid-table and be knocked out of the FA Cup, reports Xinhua.

The striker is reported to have had a poor relationship with Atletico boss Diego Simeone and the fact Joan has extended his contract could raise questions about Simeone's long term future at the club. In the short term, it leaves Atletico needing to sign another forward, with Betis' Borja Iglesias thought to be a target.