Chelsea Football Club is reportedly in negotiations to re-sign forward Joao Felix from Atletico Madrid in a deal exceeding £40 million. The discussions have ignited hopes that an agreement could pave the way for Conor Gallagher's long-anticipated transfer to the Spanish club.

Felix, 24, had a brief stint at Chelsea during the second half of the 2022-23 season, where he made 20 appearances and netted four goals. Following a loan spell at Barcelona last season, the Portuguese international has returned to Atletico, where he faces a competitive environment for playing time.

Gallagher, also 24, was close to finalizing a move to Atletico Madrid earlier in the summer and even traveled to Spain for discussions. However, the transfer hit a snag due to complications linked to Samu Omorodion's proposed switch to Chelsea, which caused the deal to falter at the last minute.

Chelsea manager Enzo Maresca commented on Gallagher's current situation, stating, “Conor is back. He is training apart [from the rest of the group]. He is doing some medical tests and some training. He won't be involved in the game. At this moment, he is trying to find a solution with the club.”

In related news, Chelsea defender Bashir Humphreys is expected to undergo a medical at Burnley on Monday, indicating a season-long loan move to the Clarets.

As Chelsea navigates these transfer negotiations, the club aims to solidify its squad while also addressing player movements, a balancing act that will be crucial for their performance in the current season.