La Razon says Atletico Madrid are keen on the young winger.
The La Liga champions approved a deadline day switch for Saul so they could bring back Antoine Griezmann from Barcelona on loan but with an obligation to buy for a fraction of the price they sold him for just two years ago.
If the Blues do bring in Saul on a permanent basis, Atleti will receive around £30m to improve their squad.
And it is claimed that Simeone is eyeing Arsenal's Saka as an option to replace Saul.
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