Tottenham are monitoring Atletico Madrid striker.
Gameiro has found himself out of favour at Atletico this season where he signed from Sevilla in 2016.
At Sevilla he won three Europa League titles.
Gameiro's first team chances have been further hampered by Atletico's January signing of Diego Costa.
Gameiro's best season came in 2015/16 when he netted 29 goals in all competitions for Sevilla.
This season the 30-year-old has scored four La Liga goals from seven starts.
Atletico are claimed to prefer a straight sale but Spurs are only interested in a loan deal, as they look for further cover for Harry Kane, with Fernando Llorente having a lukewarm start at the club.