Atletico Madrid have completed the signing of 19-year-old Benfica attacker Joao Felix on a seven-year contract in a transfer worth €126 million (£113 million)

Felix's move to Atletico Madrid is the fifth most expensive transfer in history.

The Spanish outfit have fended off several European rivals to land the promising talent. From Manchester United to Juventus.

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The La Liga side confirmed the acquisition of Felix by posting a video titled: "#PureTalent".

"João Félix is now an Atlético de Madrid player," a club statement reads. "Our club and Benfica have reached an agreement over the transfer of the young Portuguese footballer. The forward has already passed his medical at the Clínica Universidad de Navarra and signed his new contract for the next seven seasons."

Image: Atletico Madrid

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Image: Atletico Madrid

Benfica also shared a post regarding Felix. "Thank you, wonderkid," they posted alongside a compilation.

Felix enjoyed a superb campaign last season as he weighed in with 20 goals for Benfica in all competitions.

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Image: PA

He'll replace Antoine Griezmann who's set to join Barcelona this summer in a deal reportedly worth £107 million.