Chelsea have completed the signing of Joao Felix from Atletico Madrid in a deal worth £46.3 million, while Conor Gallagher has moved in the opposite direction for £36 million.

Chelsea announced the moves in a statement on Wednesday.

The Blues paid a £42 million fixed fee for Felix, plus £4.3 million in add-ons as the Portugal international signed a seven-year contract at Stamford Bridge.

The 24-year-old forward returns to Chelsea on a permanent deal having spent six months on loan during the second half of the 2022/23 season, scoring four goals in 16 Premier League appearances.

Felix spent last season on loan at Barcelona where he scored 10 goals in 44 appearances.

Felix said: “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.

“I loved my time here before and I told my friends and family that I’d love to return to the Premier League one day. To do that with Chelsea is a great feeling and I’m excited to be back.”

Barcelona target Rashford as Joao Felix completes Chelsea medical

The ex-Benfica player becomes Chelsea’s 10th summer signing following the arrivals of Tosin Adarabioyo, Omari Kellyman, Marc Guiu, Kiernan Dewsbury-Hall, Renato Veiga, Caleb Wiley, Aaron Anselmino, Filip Jorgensen, and Pedro Neto.

Felix’s arrival also takes Chelsea’s spending to £202.6 million making them the Premier League’s top spenders this summer.

The signing of Felix unlocked Gallagher’s transfer to Atletico Madrid, which was confirmed on Wednesday morning.

Gallagher’s transfer looked to have fallen through following the collapse of Chelsea’s move for Atletico striker Samu Omorodion, but the deal was revived after the Blues agreed to sign Felix.

Atletico remained determined to sign Gallagher, having been impressed by him during his five-day stay in Madrid and how he handled the situation, which only reinforced their desire to have him in their squad.

The England international passed a medical and agreed a five-year deal to join Atletico while in Madrid, and had been pictured in the Wanda Metropolitano by the club, before having to return.

The 24-year-old midfielder is now officially an Atletico player after signing a deal at the club until 2029.

In a video shared on Instagram, Gallagher said: “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. Hearing the chant of my name at the Bridge is a special feeling, and the banner you displayed meant the world to me. Thank you for everything.

“I wish the club all the best for the future, and I hope to see you all soon at Stamford Bridge.”

The Star