Atletico Madrid president Enrique Cerezo has revealed that the Spanish club are in talks with Chelsea over left-back Filipe Luis.
The Brazilian joined the Blues last summer for £15.8million but failed to hold down a place in the first team with Jose Mourinho preferring to play right-back Cesar Azpilicueta.
Luis, 29, had helped Atletico win La Liga for the first time in 18 years and get to the final of the Champions League but only started 20 matches all season, with only nine of those in the Premier League.
Luis is known to be unhappy with his lot in Stamford Bridge and may even take a pay cut to return to Atletico, where he played for four seasons.
"There are negotiations in place but I don't know how fruitful they will be," Cerezo said to the Spanish media. "Filipe Luis is a magnificent player.
"We would be delighted if he comes back and I think that in the end, we will find a solution.
"As always, the financial aspect takes precedence over the sentimental aspect but I believe a deal can be reached."
The South American made 127 appearances for Atletico and won the Europa League and Copa del Rey as well as the Primera Division title during his time with the Rojiblanco outfit.
Atletico finished third in La Liga last season and have strengthened their squad this summer by signing Argentinian striker Luciano Vietto, Belgium midfielder Yannick Carrasco and Colombian forward Jackson Martinez.
Additional reporting from PA
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