The former Benfica winger has struggled for consistency in the Spanish capital and has been regularly linked with a move away from the club.
Diego Simeone has previously insisted he does want to keep the 22-year-old in his squad despite speculation on his long term future with Los Rojiblancos.
According to previous reports from Marca, Bayern Munich registered a summer interest in him, with the Bundesliga giants making a €100m offer in August.
Atletico initially rejected that offer, but as per fresh reports from Diario AS, they are now willing to accept a similar bid, as they look to balance the books following their Champions League exit.
Manchester United monitoring the situation based on their previous interest in him but the Red Devils are unlikely to break the €100m mark for the Portuguese international.