Atlético Madrid are close to sealing the return of Filipe Luis to the Vicente Calderón after an agreement in principle was reached with the Premier League champions Chelsea.
Los rojiblancos will pay €12 million for Filipe, with a potential €4 million in add-ons, whilst the player will sign a three-year deal.
However any deal hinges on the sale of Guilherme Siqueira, who has been linked with a move to a number of clubs this week, including Porto and Inter Milan.
Siqueira will be sold only a year after joining Atlético in order to fund part of the move for Filipe, who only left last year for a reported €22 million.
AS is reporting that Filipe Luis is taking a pay cut in order to move back to Atlético, and the player was said to be grateful it was a transfer and not a loan deal.
The deal could be completed in the coming hours or days, and Filipe is reported to be staying in the UK while Chelsea begin their North American tour.