According to Spain's Daily Sport, Barcelona have put negotiations on Felix on hold for now, and they have no intention of buying out the player this summer, and the issue of extending the loan is still being discussed by Barça management.
According to Barca's contract with Atletico Madrid, Barca must move forward with negotiations for a contract extension in January, but now everything is frozen. On the one hand, it is due to the club's financial problems, and more importantly, Felix's recent performances have worried Barcelona. Felix started the season in an impressive form and showed great form. At that time, it was believed that Felix, who had returned to La Liga, was back in the right place and would get back on track from then on, and was confident that Barcelona would keep him at the end of the season.
However, Felix seems to be starting to show signs of fatigue since December, and Xavi has not started him in two consecutive league games. Felix managed to win the starting role in the Copa del Rey against Bavastero, but his performance messed it all up. His play was erratic, he was almost invisible in attack, and he also gave the opposition a goal due to his mistake.
Felix's current situation is worrying, and Barca's loan move helped him get out of the embarrassing situation of facing Simeone at Atletico, but his performance has not worked as well as it should have been, and he is not the kind of player that Barca need can change the situation and help the team win the title.
Felix's agent, Mendes, had hoped to move forward with talks between the clubs after the transfer market ended in January, but it seems that Barcelona have no intention of pushing the deal forward at this time. They still want to extend the loan period of the player, after all, the player himself has almost zero loan costs and a very low salary, which is in line with Barca's current selection preferences. But that doesn't mean Barcelona will keep him in the squad forever, they need Felix to impress the hierarchy and Xavi.
The previous loan spell at Chelsea was unsuccessful, and now if the loan move to Barcelona is returned again, then Felix will be in a rather awkward position. Once Atletico treats his deal in line with the principle of cost, perhaps he can only choose to go to Saudi Arabia to play, so that it is possible to facilitate an agreement between the three parties.