Spanish champions keen to land City hit man to replace Chelsea bound Costsa.
La Liga giants Atletico Madrid are said to be closing in on a move to sign Manchester City striker Alvaro Negredo as current star Diego Costa edges nearer to joining Chelsea, according to the Daily Star.
The Spanish champions have already had one £12m approach for the City star knocked back, but are set to make a return for him with an improved £20m offer as star striker Diego Costa finally nears his move to Chelsea.
The Costa deal is expected to be announced at some point this week and the club will look to use the money they receive for the Spain international to fund the transfer.
City striker Negredo enjoyed a successful start to his career at the Etihad before suffering a big dip in form.
He is currently on holiday in his homeland and is reportedly aware of the interest being shown in him from Diego Simeone’s men and their offer is believed to include additional performance-related payments which could push the final fee even higher.
City boss Manuel Pellegrini is not thought to be keen on selling Negredo, but sources in Spain believe that Atletico have been encouraged after learning that City will listen to serious offers behind the scenes.
Negredo scored 23 goals last season but was overlooked for Spain’s national team at the World Cup this summer.