However, after Granada opted against activating their purchase clause on the 24-year-old, he headed back to Madrid to resurrect his career.
The Spanish U21 international has struggled to make an impact with Los Blancos following his 2017 move from Real Zaragoza with just 12 top flight league appearances to his name at the club.
“After the Olympics, I will return to Valdebebas to face the season that begins next week”, as per reports from Marca earlier today.
“My hope is to stay, do things well and try to contribute my qualities to the team.
“Bu I know that until the end of August, you know as a player, you should always have your suitcase ready.”
Vallejo is set to remain on the bench for tomorrow’s Olympic Gold final clash in Tokyo as Luis de la Fuente’s side take on Brazil.