Atletico Madrid have beaten a host of Europe's top clubs to the signing of highly rated Benfica teenager Joao Felix for €126million.

The LaLiga club submitted an offer last Thursday, just three weeks after he made his debut for Portugal, and the deal was completed six days later.

He has signed a contract for the next seven seasons with the Wanda Metropolitano side.

Joao Felix scored 20 goals in all competitions during the 2018-19 season - his first as part of Benfica's senior squad - and in April became the youngest player to hit a Europa League hat-trick.

Head-turning performances domestically and in continental competitions reportedly captured the attention of Juventus, Manchester City and Manchester United, but Atletico have moved quickest to win his signature.

Joao Felix had a release clause of €120m but Benfica will receive a sum greater than that as Atletico's payments will be made in instalments.

The 19-year-old's arrival at the Wanda Metropolitano could pave the way for Antoine Griezmann's exit.

The France forward has made clear his intention to leave the club as Diego Simeone plots a squad rebuild, with Diego Godin already confirming his departure and Filipe Luis tipped to follow.