Felix, who has also extended his contract with Atletico until 2029, arrived in Madrid from Benfica in 2019 on a seven-year deal for 126 million pounds ($158.62 million), making him the club's most expensive signing.
He spent the second half of last season on loan at Chelsea after falling out of favour with Atletico manager Diego Simeone. Having scored four goals in 16 Premier League games, Chelsea decided not to sign him on a permanent deal.
In his second season at Atletico, Felix scored seven league goals in 31 appearances to help them win their first LaLiga title in seven years. However, Felix has not featured in Atletico's three games so far this season.
Overall, he has made 131 appearances in all competitions for Atletico, scoring 34 goals.
Felix made his Portugal debut in 2019 and has scored five goals in 31 internationals. The forward played at Euro 2020 and the 2022 World Cup.
Similarly to Felix, Cancelo had issues with manager Pep Guardiola at Manchester City, and after spending six months at Bayern Munich last season, the full-back was linked with a move to the Spanish giants all summer.
Cancelo won three Premier League titles and a League Cup in England, as well as being a runner-up in the Champions League in 2021.
In 98 league games, he scored five goals and racked up 11 assists.
