The Spanish international looks to be nearing a switch to Ligue One where he will work with former teammate Radamel Falcao who left Atletico for Monaco earlier in the summer.
It is believed that Atletico want to replace him with either one of Man Utd's Shinji Kagawa or perhaps Chelsea player Juan Mata on loan.
According to Spanish source AS, Atletico may not in fact need to bring in one of these two big names on loan with reports believing that they have pipped Arsenal to the signing of Saint Etienne star Josuha Guilavogui.
Meanwhile they are also about to sign Toby Alderweireld with Martin Demichelis leaving for Manchester City just a couple months after joining the club on a free transfer.