Chelsea have agreed to sell Diego Costa to Atletico Madrid

Chelsea have agreed to sell Spain striker Diego Costa to Atletico Madrid after reaching an agreement with the club to re-sign the player.

Costa has not featured for Chelsea since the FA Cup final in May, and opted to remain in Brazil rather than return to Stamford Bridge amid a bitter dispute with the Premier League champions.

According to El Mundo, Costa, 28 will sign a contract through June 2021 that will make him Atletico's most expensive signing.

The report also add that Atletico will pay €55 million (£48.5m), plus €10m (£8.8m) in variables, surpassing the €40m they paid Porto for Radamel Falcao in the summer of 2011.

Chelsea Football Club has today agreed terms with Atletico Madrid for the transfer of Diego Costa, a statement on Chelsea's official website said.

The transfer will be subject to the agreement of personal terms and a medical.

Chelsea Football Club has today agreed terms with Atletico Madrid for the transfer of Diego Costa... https://t.co/TpJBp3W2Lf pic.twitter.com/5o6OM10inP

— Chelsea FC (@ChelseaFC) September 21, 2017

Atletico added:

The English club has authorised Diego Costa to travel to Madrid in the coming days to undergo a medical and agree a contract with our club.

Atletico will be able to officially register Costa on Jan. 1, when the Spanish transfer window re-opens and their FIFA transfer ban ends.