The club are said to have placed a £10million offer on the table, an offer that would see the Bluebirds earn their money back from last summer’s purchase of Medel.
The Chilean World Cup star had reportedly been in talks with Italian giants Inter Milan over the last 10 days, with the club's hierarchy even said to have flown to Cardiff last week to try to thrash out a deal.
But it seems as if their interest in Medel could be put to bed, with Galatasaray now emerging as favourites for his signature.
Milan had reportedly been weighing up a loan bid for Medel, with a view to signing him on a permanent deal this time next year. However, the loan proposition does not really help the Bluebirds' cause as they prepare for life back in the Championship.
The 26-year-old is due back in Cardiff next week to resume training, although the club are still reportedly resigned to losing his services.
Medel was one of Cardiff’s stand-out performers last season along with the likes of Steven Caulker, David Marshall and Fraizer Campbell. Caulker has already left the Welsh club for Premier League new-boys Queens Park Rangers, while Campbell is reportedly having a medical at Crystal Palace on Wednesday afternoon.
It remains to be seen whether Player of the Season Marshall will depart the club, after the likes of Arsenal and Tottenham appear to have shelved their interest in the Scot.
For now Medel also remains a Cardiff player, but should the reported £10million bid become concrete, the Bluebirds' summer selling spree could be all but complete.