The reported fee – which is said to include add-ons – would make the 28-year-old would Atletico’s most expensive ever signing and would allow him to begin playing for the club in January 2018.
However, the Spain international will be able to train with his new teammates immediately and can be officially unveiled by the club, as reported by Diario AS on Thursday.
Fellow Madrid daily sports newspaper Marca then followed up the report with tweaks in the detail – stating the agreement is an initial fee of €55m with a further €10m in add-ons, while a medical will take place on Friday and he will be present for Atleti’s clash with Sevilla on Saturday.
The striker has made an appearance of any kind in over 100 days and it is likely that by the time he next plays competitively, that number will have exceeded 200.
Atleti were reportedly keen to tie up the deal last week and were given encouragement by the English champions, who were said to have finally opened up to coming to the negotiating table.
However, talks stalled and reports emerged the striker did not return to London as scheduled, but it now appears an official agreement has been finalised.