Chelsea Stand Firm on Joao Felix Demand

Benfica Still €13m Short As PSR Clock Ticks for the Blues

The tug-of-war over Joao Felix’s future is heating up — and with the Eusebio Cup just around the corner, Benfica are desperate to pull off a symbolic homecoming. But Chelsea, wary of their own financial position under the Premier League’s Profit and Sustainability Rules (PSR), are not making things easy.

The clock is ticking. Emotions are high. And Joao Felix, once the golden boy of Portuguese football, is again at the centre of a complex transfer negotiation that blends financial pressure, nostalgia, and top-level football politics.

What Happened? Chelsea Dig Their Heels In

According to multiple Portuguese sources, including A Bola, Chelsea have slapped a €54 million (£46m/$62m) price tag on Joao Felix — the same fee they paid Atletico Madrid when they made his loan deal permanent last year.

Benfica, Felix’s boyhood club and the stage of his breakout season in 2018-19, have made an offer: €27 million (£23m/$31m) for 50% of the player’s economic rights. On the surface, it’s not a bad deal. That kind of proposal could help Chelsea comply with looming PSR deadlines, as a partial sale would still count as significant profit on the books.

But Chelsea want more. Much more. They’re demanding an extra €13 million (£11m/$15m) to guarantee a higher percentage of Felix’s rights down the line — bringing the total package Benfica would have to pay to around €40 million.

And that, for Rui Costa’s club, is just too much.

The Bigger Picture: Benfica’s Race Against Time

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This isn’t just a standard transfer pursuit. Benfica president Rui Costa is personally involved in the negotiations — a rare move that highlights how important this deal is, both emotionally and strategically.

Felix has already agreed to lower his salary to make the move feasible. The 25-year-old wants this return. Benfica want it. The fans are practically dreaming about it.

The target is clear: close the deal before the Eusebio Cup, where Benfica will face Jose Mourinho’s Fenerbahce in what’s meant to be a celebration of the club’s rich heritage. The symbolic value of reintroducing Joao Felix to the Estádio da Luz crowd during such an occasion is massive.

But symbolism won’t move the needle on Chelsea’s finances.

Why Is Chelsea Holding Out?

Here’s where it gets messy. Chelsea’s PSR situation is precarious. The club has spent heavily in recent years, and with the Premier League tightening its belt on financial rules, the Blues are on a tightrope.

Selling Felix, even partially, is an opportunity to bring in significant capital without losing a player central to their current plans — because, let’s face it, Felix isn’t in Enzo Maresca’s first-choice XI right now.

From Chelsea’s perspective, offloading Felix for anything less than their valuation — especially after investing €54m in him just a year ago — would be a bad look financially and a tough pill to swallow from a sporting operations standpoint.

And with no other clubs currently in the race, the Blues know they hold the stronger hand — at least for now.

Did You Know? A Reunion Rich in History

Felix’s return to Benfica wouldn’t just be nostalgic. It could be footballing poetry.

He made his professional debut for the club in 2018 under Bruno Lage, now back in charge of the Eagles. Under Lage, Felix exploded onto the European scene — scoring 20 goals in his breakthrough campaign and earning his record-breaking €126 million move to Atletico Madrid the following summer.

That season remains one of the most exciting in recent Benfica history, and Felix’s flair, intelligence, and connection with the fans made him an icon far before he turned 20.

Reuniting him with Bruno Lage now — in a Benfica side filled with young talent and aiming to push deeper into Europe — could be a game-changer both on the pitch and at the box office.

The PSR Factor: Time Isn’t on Chelsea’s Side

Here’s the twist: Chelsea also need this deal, just in a different way.

The Premier League’s Profit and Sustainability Rules are forcing clubs to balance their books more carefully than ever. With the financial year ticking over at the end of June, Chelsea’s decision to sell players like Lewis Hall, Armando Broja, and Ian Maatsen reflects their attempts to stay compliant.

Selling Felix would be another way to do that — especially since his amortised value has barely decreased after just one year. Even a partial sale, like Benfica’s 50% offer, would register as a healthy boost in accounting terms.

That’s why this standoff is so tense. Chelsea need to sell, but they can’t be seen to undersell. Benfica want to buy, but they can’t afford to be extorted.

What’s Next?

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Talks are ongoing and intensifying. The Eusebio Cup is fast approaching, and if Felix is to wear the Benfica shirt again in that showcase match, a deal needs to be struck within days, not weeks.

There’s still cautious optimism in Lisbon. Agent Jorge Mendes, who has represented Felix throughout his career, is pushing hard behind the scenes to make it happen.

So far, Benfica remain the only serious suitor — which gives them leverage. But if another club were to swoop in last minute, Chelsea could see their demands met, and Benfica might find themselves outbid.

For now, the ball is in Chelsea’s court — but their PSR pressures might soon force them to play it.

Final Thoughts: A Deal Too Sentimental to Fail?

Football deals are rarely about sentiment — but this one might be an exception.

Joao Felix returning to Benfica would be more than just a feel-good story. It would be a smart footballing move for a club trying to rise again in Europe. It would be a revival for a player who still has magic in his boots. And it would be a PR masterstroke ahead of a marquee home fixture.

But for Chelsea, selling him too cheaply could mean financial trouble and poor optics. They want value. They want control. And most of all, they want to balance the books.

Will they budge? Will Benfica stretch? We’ll find out soon enough.