Chelsea striker Diego Costa has re-signed for Atletico Madrid in a deal worth over £50million.

The Blues will receive an initial fee of just under £50million with another £9million in possible add-ons based on performances.

The 28-year-old has brought to an end a three-year stay in West London, after joining from Atletico in 2014.  He scored 59 goals in 120 games, claiming two Premier League titles on the way.

However, he fell out with Chelsea and coach Antonio Conte in January and early in the summer he was told he was not part of their plans – at which point he refused to return to the club.

Costa insisted he only wanted to join Atletico, but that was complicated due to the fact they had a transfer ban in the summer – but they have now finalised the deal.

“I’m very happy to return home, I’ve always said it, Atletico is my home, I’m very, very happy,” he said.

“I’m looking forward to start contributing. I’m going to give my all for the team, as I always try to do.”

Although Costa is now a Atletico player, he will not be able to play for them until January, when the transfer window re-opens and he can be registered again.

Bookmakers already believe that Costa could yet make an impact from January onwards.

Spokesman Paddy Power said: “So Costa is finally getting his wish to Die-go home to Atleti. And he truly will put the ‘mad’ into Madrid.

“He may have been sidelined in favour of Alvaro Morata, but we make Costa a short-price to usurp his replacement in the Spain team next summer.”