Diego Simeone's side are one of a number of teams who Mallorca claim are chasing the signature of the Mexico international, who wants to leave after relegation, this summerMallorca vice-president Llorenzo Serra Ferrer claims that Atletico Madrid are one of "six or seven teams" who have expressed an interest in signing Giovani dos Santosthis summer.
The €6 million-rated (£5.2m) forward signed a four-year deal with the Islanders last summer after finally making a permanent move from Tottenham, who had previously loaned him out on a regular basis.
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The club's relegation means that a summer transfer is almost inevitable for the 24-year-old and Ferrer has named a number of clubs who are interested, including Atletico - who finished third in the top-flight last season - and Valencia.
"With Giovani we have six or seven teams interested, without exaggeration," the Mallorca chief told AS.
"Some have made offers but have so far failed to interest the player. Others are yet to put their offers in.
"We listen to the interest and value it. LA Galaxy, Rubin Kazan, CSKA Moscow and, in Spain, teams like Valencia, Atletico Madrid and Real Betis are interested."
Despite relegation, Ferrer says that his side are looking to tie up a permanent deal for Scotland defender Alan Hutton, who spent the second part of last season on loan from Aston Villa.
"As for Hutton, he would not mind continuing and we have put a proposal forward for his continuation," he confirmed.