Siqueira is thought to be on Atletico’s radar due to the increasing speculation that the club may lose Filipe Luis to Chelsea.
Liverpool and Arsenal have often been linked with a move for the 28-year-old, but will now have to act fast if they are to secure his signature.
The left-back has been on loan at Benfica for the 2013/14 season, having made 18 appearances during their title winning campaign. Benfica hold an option to sign the Brazilian for €7 million this summer, but it has become clear that bigger clubs are now chasing his signature.
Liverpool would benefit at full-back with Siqueira as they look to appoint a replacement for the injury prone Jose Enrique. It is thought to be one of the many defensive options that the Anfield club are considering this summer, after their fragility at the back more or less cost them the Premier League title this season.
Arsenal meanwhile already have a talented young left-back in Kieran Gibbs, but have appeared to have lost in their efforts to hold onto Bacary Sagna. The speculation over Siqueira could mean that Arsenal manager Arsene Wenger would consider him in a right-back role, or replace Nacho Monreal, as they also look to make signings to kick on from their FA Cup triumph.
Siqueira would also offer some European experience to both Liverpool and Arsenal, having featured heavily in Benfica’s Europa League campaign last season. The Brazilian went all the way to the final with the Portuguese club, as they lost on penalties to Sevilla.
But with reports of La Liga champions Atletico’s interest in Siqueira, Premier League clubs could find it an uphill task to convince him that England is the place to be.