Los Rojiblancos have been tentatively linked with the Valencian-born wing back since 2019, but the La Liga leaders have declined against making a bid due to Benfica’s asking price.
The Portuguese giants have previously hinted they would not accept any offers below Grimaldo’s €60m release clause at the Estadio da Luz.
However, according to reports from Record, as per Mundo Deportivo, Benfica could now lower that price to secure a summer sale and free up funds for their own summer targets.
Benfica are rumoured to be lining up a swoop for Wolves’ Ruben Vinagre as a replacement for the former Spanish U21 international, if Atletico are willing to meet their compromise of €25m.
Simeone could be open to a renewed push for the 25-year-old but they face competition from Manchester City in the months ahead.