Juventus have offered Portugal international midfielder Tiago to Atlético Madrid, according to El Mundo Deportivo.
Despite a short spell of good form this season, the 28-year-old has largely disappointed since arriving in Turin.
Juventus director of sport Alessio Secco was in Spain earlier this week, opening prospective deals.
He apparently met Real Madrid to discuss Mahamadou Diarra and then went to Villarreal to talk about Giuseppe Rossi.
Atlético could also have been on his schedule, as they have registered an interest in Tiago before.
Los Colchoneros couldn't afford him in January and Claudio Ranieri, who was then in charge of Juventus, wanted to keep him.
Jorge Mendes, Tiago's agent, is also currently in Madrid negotiating a deal for his other more famous client, Cristiano Ronaldo.
Tiago joined Juventus in 2007 and has yet to score in 35 appearances.
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