The Argentine midfielder is currently on loan at Roma but the Rojiblancos' new coach, Diego Simeone, would like to bring his compatriot to the Vicente Calderon this summer
The Argentine international is currently on loan at Roma until the end of the season and the Giallorossi retain the option to buy the player for a fee believed to be in the region of €7 million.
However, Gago has yet to firmly establish himself in coach Luis Enrique's starting line-up and there has been speculation that he will be allowed to return to Madrid in June.
According to Ole, though, the 25-year-old is more likely to end up at the Vicente Calderon than back at the Santiago Bernabeu as the paper claims that Atletico's new coach, Diego Simeone, has made his compatriot one of his principal summer transfer targets.
Gago joined Real from Boca Juniors in December 2006 but never managed to nail down a regular place in the Madrid team and was allowed to join Roma on loan last summer by coach Jose Mourinho.