Costa, 25, has enjoyed a simply incredible season, scoring 35 goals in 44 games to establish himself as one of the top strikers in Europe. He may have endured an underwhelming World Cup, but it still seems that the Brazilian-turned-Spaniard will leave the Spanish capital this summer in order to join up with Jose Mourinho's Chelsea.
His expected departure from the Estadio Vicente Calderon is a huge blow to Diego Simeone's side, as Costa was an integral part of the team that won the La Liga crown and reached the Champions League final, and now the club must look to the transfer window in order to find a replacement.
A number of names have already been linked with the club, including Queens Park Rangers' Loic Remy and former Atleti striker Fernando Torres, who could leave Chelsea this summer - yet it seems they have turned their attention to another Premier League striker.
Manchester City hitman Negredo was strongly linked with a move from Sevilla to Atletico last summer after the sale of Falcao to Monaco, and according to speculation in the press, Simeone has rekindled his interest in the 28-year-old - and there is big money on offer.
There is reportedly a £25m bid on the table from Atletico, but should City sell?
Manuel Pellegrini's side will be under some pressure to raise funds this summer in order to comply with Financial Fair Play regulations. Negredo's goals certainly dried up in the second half of the season, and he eventually lost his place in the team to Edin Dzeko. With Stevan Jovetic also set to return to full fitness this summer having had a stop-start first year in England, there will once again be competition for places - and that could well mean that Negredo should be sold.