Joao Felix lit up San Siro during his first appearance following his loan move from Chelsea to Milan at the end of the January transfer window, but the Rossoneri will need to return to the negotiating table if they are to buy the Portugal international on a permanent deal in the summer. Here is what it might take for that to happen.

Joao Felix officially joined Milan in the final minutes of the January transfer window, joining on a straight loan deal from Premier League side Chelsea.

Given that the 25-year-old moved to Chelsea for a fee of €52m over the summer, Milan were unable to offer an option to buy in January given that they had just spent €32m on Santiago Gimenez from Feyenoord.

However, though Joao Felix has only made one appearance in Italy, there are already reports that Milan are exploring options to extend his stay beyond the summer.

How much will it take for Milan to sign Joao Felix permanently? 

As there is no buy option included in Joao Felix’s loan deal, Milan will have to negotiate a fee with Chelsea if they are to make the deal permanent.

Given that he cost Chelsea €52m in the summer, his depreciated value in the summer of 2025 should stand at €41.6m according to calculations from Calciomercato.com. That €41.6m figure is what it would take for Chelsea to avoid making a capital loss.

Thursday’s report suggests that there are two other options Milan could explore to make Joao Felix’s move permanent.

One of those options would be to include an exchange player in negotiations with Chelsea, such as Fikayo Tomori, who had been linked with a return to the Premier League in the January transfer window.

The other opinion could be to re-negotiate another loan deal and include an option to buy for the following summer, in 2026, at which point, Joao Felix’s deprecated value would stand at around €31.2m.