The England Euro 2024 star has just one year left on his contract and has been the subject of much transfer speculation over the past two seasons.

Plenty of Premier League clubs, most recently Tottenham and Aston Villa, have been interested in signing Gallagher who burst onto the scene in 2021 while on loan at Crystal Palace.

Last season the midfielder became a key player under Mauricio Pochettino and was Chelsea's de-facto captain in the prolonged absences of Reece James and Ben Chilwell.

However, it remains to be seen how or if the 24-year-old will fit into new manager Enzo Maresca's plans, especially since he is yet to return to training after his exploits at the Euros.

But he may have already played his last game at Stamford Bridge, with The Times reporting that Atletico have acted on their interest in the player and opened talks with the Blues over a transfer.

Moreover, Atletico have 'received positive indications' from Gallagher, suggesting he could be open to moving to Spain having previously been encouraged to do so by Three Lions teammate and former Madrid star Kieran Trippier.

Chelsea value Gallagher at up to PS50m, who have been tempted to sell for a while given that any fee for the academy graduate would be banked as pure profit.

Arsenal target 'opportunistic' move for PS54m ex-Man City star

Merino has been valued at PS40m by Real Sociedad and has also emerged as a target for Arsenal.

It's been a busy transfer window so far for Chelsea who have already sold academy graduates Ian Maatsen, Lewis Hall and Omari Hutchinson to Premier League rivals.

They have so far spent over PS74m on Kiernan Dewsbury-Hall, Omari Kellyman, Renato Veiga, Caleb Wiley, Marc Guiu and Tosin Adarabioyo.

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