Joao Felix will not be signing for Chelsea on a permanent deal this summer, according to Atletico Madrid president Enrique Cerezo.
The forward, who joined Chelsea on loan in January, scored four goals in 20 appearances for the club.
Cerezo said incoming Blues manager Mauricio Pochettino had chosen not to retain the 23-year-old Portuguese.
“Yesterday we had the news that the new Chelsea manager does not [want] Felix,” he told Spanish outlet AS.
“We’ve known for less than 24 hours. He’ll come back here and we’ll see. We don’t have anything planned.”
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Atletico made Felix the fifth most expensive player in history when they paid Benfica £113m for the then 19-year-old in 2019.
He has gone on to score 34 goals in 131 appearances in all competitions and helped them to win the 2020-21 La Liga title.