Chelsea have confirmed that Filipe Luis has completed his return to Atletico Madrid this afternoon.
The Brazilian joined the Blues last summer in a deal worth around £16 million, but he failed to find a regular first team spot and never played more than two games in a row.
All in he played 26 times for Chelsea, but couldn't dislodge Cesar Azpilicueta from Jose Mourinho's starting XI and is now on his way back to the Vicente Calderon.
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A statement on Chelsea's website read: "Chelsea Football Club has today agreed terms with Atletico Madrid for the permanent transfer of Filipe Luis....We wish him all the best for the future."
In his season-long stay with Chelsea, Luis earned a Premier League winners' medal and won the Capital One Cup. Atletico Madrid sporting director Jose Luis Perez Caminero said: "We all know Filipe Luis.
"We will be stronger with one of the most talented wingers in the world. He already knows our club and our way of playing so he will adapt quickly."
Chelsea are reportedly chasing Augsburg and Ghana left-back Abdul Baba Rahman as his replacement. The 21-year-old is believed to be keen on a move to the Blues, while Galatasaray's Brazilian full-back Alex Telles is also on Jose Mourinho's radar.
Luis has tweeted his thanks to the Chelsea fans after the deal was announced, along with a video of his highlights from last season.
Before he joined Chelsea, Luis was considered one of the best full-backs in the game, however his stock has fallen dramatically.
In fairness his lack of game-time isn't necessarily down to his own efforts; Mourinho frequently praised Azpilicueta for his efforts last term and few could have foreseen the former Marseille man's emergence as a first team regular.
Now he has a chance to rebuild in a place where he feels comfortable, and few would bet against Luis establishing himself as a major force once more.