Joao Felix has joined Chelsea on loan until the end of the season.

The Blues saw off interest from Premier League leaders Arsenal to land their man after Atletico Madrid made the Portuguese star available for a short-term switch worth a reported £9million.

Prior to agreeing the move, the 23-year-old attacker extended his contract with Atleti by a year, meaning his deal in the Spanish capital now runs until the summer of 2027.

After arriving in West London, he said: "Chelsea is one of the great teams in the world and I hope to help the team reach their objectives. 

"I am very, very happy to be here and very excited to play at Stamford Bridge."

Felix has looked slightly out of place since arriving at the Wanda Metropolitano Stadium from Benfica for a whopping £113m in 2019.

But he gave a timely reminder of his talents with some superb performances during Portugal's World Cup campaign in Qatar.

Chelsea boss Graham Potter has been desperate for reinforcements after seeing his side lose four of their last six league outings and crash out of the FA Cup with a 4-0 humiliation at the hands of Manchester City.

He is hoping Felix, who has five goals and three assists in 20 appearances for Atleti this season, can bring some creativity to his goal-shy side. 

Speaking ahead of tomorrow's London derby with Fulham, Potter said: "He is a quality player and he will make a difference in the final third of the pitch. 

"He is young but has really good experience. The signing gives everybody a lift. 

"He is a good age and he can play as a second striker between the lines and making a difference in the final third. We are looking forward to working with him."

Felix is the 13th signing of the Todd Boehly era and the first since the American stood down as interim sporting director to be succeeded by Paul Winstanley and Christopher Vivell.

Atleti's decision to extend his contract suggests they still view the 28-cap international as an important part of their plans. 

With persistent rumours suggesting boss Diego Simeone will leave the club in the summer, it appears his replacement would likely be tasked with getting the best from Felix.