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.

LUSAIL CITY, QATAR: Joao Felix of Portugal runs with the ball during the FIFA World Cup Qatar 2022 Group H match between Portugal and Uruguay at Lusail Stadium on November 28, 2022 in Lusail City, Qatar. (Photo by Francois Nel/Getty Images)
LUSAIL CITY, QATAR: Joao Felix of Portugal runs with the ball during the FIFA World Cup Qatar 2022 Group H match between Portugal and Uruguay at Lusail Stadium on November 28, 2022. (Photo by Francois Nel/Getty Images)

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.

Portugal forward Joao Felix celebrates scoring his team's second goal during the Qatar 2022 World Cup Group H football match between Portugal and Ghana on November 24, 2022. (Photo by GLYN KIRK/AFP via Getty Images)
Portugal forward Joao Felix celebrates scoring his team’s second goal during the Qatar 2022 World Cup Group H football match between Portugal and Ghana on November 24, 2022. (Photo by GLYN KIRK/AFP via Getty Images)

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.