Romelu Lukaku transfer latest: Chelsea and Belgium striker set for 'loan move to Atletico Madrid'

Spanish media report Chelsea have agreed to send the striker to La Liga champions

Romelu Lukaku is moving to Atletico Madrid on loan, according to reports in Spain (Getty Images)

Chelsea have agreed to send Romelu Lukaku on loan to Spanish champions Atletico Madrid, according to reports in Spain.

The 21-year-old has spent the last two years on loan in England with West Brom and Everton, scoring 32 goals in 66 Premier League matches.

But Chelsea are now prepared to allow him to continue his development with a Champions League club with Spanish newspaper El Confidencial report that a deal is agreed for next season.

The Blues have developed an excellent relationship with the Spanish champions in recent years, with Thibaut Courtois having spend three seasons on loan in Madrid, while striker Diego Costa and midfielder Tiago have made the move to Stamford Bridge this summer.

Diego Simeone is hopeful of bringing Courtois back for another season, but Jose Mourinho might keep him at Chelsea to battle for the No 1 spot with Petr Cech.

The Chelsea boss is also chasing a deal for Filipe Luis, after the exit of Ashley Cole and the expected sale of Ryan Bertrand.

Lukaku has been linked with a return to Everton and also with Italian giants Juventus.