The Chelsea midfielder's current contract has less than a year to run.
Atlético Madrid have emerged as potential suitors for Cesc Fàbregas should he leave Stamford Bridge this summer.
According to the Daily Mirror, Diego Simeone is interested in signing the 31-year-old Spaniard.
The midfielder is yet to make a Premier League appearance this season under Maurizio Sarri.
Facing a battle with Jorginho, N’Golo Kanté, Mateo Kovačić and Ross Barkley for a starting spot, it has been reported Fabregas is already exploring his options though could yet stay to fight for his place.
However, should he fail to earn a new deal or elect to leave west London of his own accord, the LaLiga giants are ready to make a move.
Fàbregas previously spent three years in LaLiga after leaving Arsenal for boyhood club Barcelona in 2011.