Benfica have turned down an offer of 80m euros plus add-ons for Félix, who has clubs from across Europe queuing up for his signature.
Real Madrid have tabled a bid of 80m euros plus 40m in add-ons for Benfica's Joao Félix, but have had this rejected by the Portuguese club, who are holding out for 120m up front - and have already received four such offers from elsewhere.
Félix, 19, has established himself as one of Europe's most coveted young talents after playing a major role in Benfica's 2018/19 league title win, in a season that saw him score 20 goals and supply 11 assists in all competitions for the Águias.
Juve, United, City, Barcelona, Atleti all also eyeing Félix
Juventus, Manchester United, Manchester City, Barcelona and Atlético Madrid are among the clubs competing with Madrid to sign the forward.
Madrid were first made aware of Félix's talents in 2017, when his two goals helped Benfica Under-19s dump Los Blancos' Under-19s out of the UEFA Youth League semi-finals. In April this year, he then delivered a break-out performance at senior level in the Europa League, bagging a stunning hat-trick against Eintracht Frankfurt that left him at the top of shopping lists across the continent.
Before that memorable display, he had also served up a demonstration of his capabilities in front of scouts from clubs including Barça, Atlético, United and Borussia Dortmund in January, scoring one and setting up another in a 5-1 league thumping of Boavista at the Estádio da Luz.
Atleti keen on Félix as Griezmann replacement
With Antoine Griezmann leaving Atlético this summer, Félix is being closely tracked by Los Rojiblancos as they seek to replace the Frenchman, with head coach Diego Simeone a firm admirer of the Portugal Under-21 international.