A loan move for Joao Felix may not be quite as attractive as it first seems, with Atletico Madrid wanting a significant loan fee and a purchase option.

Atletico Madrid could be open to letting Joao Felix leave on loan in the January transfer window, but the Evening Standard report that they’d require a significant loan fee and an option to buy him in the summer.

David Ornstein had reported for The Athletic that some who work in top-level recruitment think Felix may be better suited to Arsenal than many of the alternatives, given the stylistic fit and the Gunners’ need to cover for Gabriel Jesus’ absence.

Ornstein added that Felix has interest from several top clubs, some of whom believe he may even be available on loan. Though others think a permanent transfer is more realistic.

But even if it’s a loan deal, it looks like Arsenal would need to invest significantly to make it happen.

Marca claimed on Monday that Arsenal appeared to be taking the lead in the race for Felix, with agent Jorge Mendes accelerating his efforts to find his client a new club.

But Fabrizio Romano plays down those claims, writing for CaughtOffside that his understanding is there are no favourites for Felix right now.

Felix’s agent is speaking to many clubs, and there’s nothing advanced with any individual side.

Felix has started three of Atletico’s six Champions League games and five of their 14 league matches so far this season, so he’s been named on the bench more often than in the starting lineup.

Yet he showed what he can do at the World Cup, with a goal and two assists in his four starts at the tournament.

Capable of playing out wide or in a central role, Felix could be a good fit for Arsenal. But the competition for his signature suggests it would be an expensive move.