Real Madrid fail with stunning late £116m bid to snatch Benfica and Portugal star Joao Felix from the grasp of fierce rivals Atl

Real Madrid have failed with a sensational last-gasp bid in the region of £116million to snatch Portugese starlet Joao Felix from the clutches of rivals Atletico Madrid.

Felix, 19, has been pursued by a host of elite European clubs this summer after breaking onto the big stage with Benfica.

The wonderkid has been linked with the likes of Manchester City and Paris Saint Germain, but Atleti now appear to have finally won the race and will conclude a deal imminently.

Rivals Madrid were unsuccessful in their late attempts to hijack the move, according to reports in Spanish publication Marca.

It is claimed Madrid staged a final push to sign the player, with a delegation headed by club chairman Florentino Perez presenting a deal to Benfica worth €130m (£116m).

Madrid had offered a package with around €80m to be paid up front, plus a further €50m in clauses and related add-ons.

The player now appears to be set on Atleti, with the sway of regular first team opportunities at an elite level.

The 19-year-old has spent the summer so far with the Portugal national side, after being called up by manager Fernando Santos for the UEFA Nations League finals.

Felix is expected to arrive at Atleti just as Rodri departs for the Premier League with Manchester City.

The playmaker has a £63million release clause in his current contract, and both City and Bayern Munich are understood to be willing to meet it.

Rodri is reported to have chosen the Etihad as his next destination, and will become City's record signing, with last summer's £60m move for Riyad Mahrez from Leicester their priciest purchase to date.