Tottenham Hotspur remain in the market for a forward, according to reports.
The three-time Europa League winner has only been a bit-part player this season for Atletico, and Spurs are keen to sign him on loan.
Tottenham's interest in Gameiro speaks volumes to the below par performance of summer signing Fernando Llorente.
The Spaniard has failed to contribute much during his time in North London, scoring just one Premier League goal.
Llorente, 32, and Gameiro, 30, would both struggle for playing time competing against each other as well as first choice Harry Kane, with Spurs favouring playing just one striker.
If Gameiro arrived one possibility could be for Llorente to leave, but his knowledge of former side Juventus could be key in their upcoming Champions League clashes and moving him on so soon could be a mistake.
So if Spurs do retain Llorente, signing Gameiro may be an unnecessary move.
But at the weekend the Spaniard was an unused substitute in a 1-1 draw against Southampton, with Mauricio Pochettino now displaying faith that he could be brought on to turn the game in Tottenham's favour.
This speaks of dissatisfaction with the striker's contribution so far and is reason enough for the Premier League team to be looking for an alternative.