Vicente Calderón Stadium star is heading to Old Trafford in the summer.
Atletico Madrid goalkeeper David de Gea is on the verge of replacing Edwin van der Sar at Manchester United.
Guillem Balague reports there have been on-going negotiations between the two sides for some time, with the youngster now involved.
United are willing to meet the €25million (£22million) valuation leaving any decision in the hands of De Gea.
The 20-year-old has also been offered a new deal by Atletico and is tempted to stay at his hometown club.
The Spain U21 international is unsure whether to leave his family and friends at such a young age but his representatives are telling him it is too good an opportunity to turn down.
Atletico are offering a new €1.1million-a-year deal but the Red Devils are prepared to match the offer if De Gea moves to Old Trafford.
He has fought off competition from other top keepers including Manuel Neuer of Schalke and Maarten Stekelenburg of Ajax.
All three shot-stoppers have been watched by United’s goalkeeping coach Eric Steele and manager Sir Alex Ferguson.