Reports: Diego Costa to join Premier League side on loan after he signs for Atletico Madrid

What's the story?

Diego Costa could soon have his way, as the striker is reportedly on the verge of signing for his former club Atletico Madrid. After being told that he's no longer required at the club by manager Antonio Conte, via a text message, the Spaniard has refused to return to Stamford Bridge and hasn't fazed by the possibility of being fined.

After several twists and turns, reports in the Daily Express suggest that the La Liga giants have begun talks with Costa and are believed to be closing in on a £30 million move for the 28-year old. Atletico plan on subsequently loaning him to Everton until their transfer ban ends.

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Atletico Madrid are also allegedly keen on bringing Diego Costa back and will look to snap up the want-away star before the transfer deadline on the 31st of this month. Diego Simeone is inclined towards a reunion with his former striker, and is ostensibly trying to push through a last-minute deal.

However, Atletico are currently subject to a year-long transfer ban, which only ends in January. While the La Liga giants are not allowed to register any new players during this time, there are no restrictions that prevent them from buying new players.

The heart of the matter

Despite running riot last season, Costa publicly stated that he will never play for the English Premier League champions again, after falling out with the Chelsea gaffer. Notably, the striker desires a move back to Atletico Madrid, where he spent 3 seasons before moving to England.

The controversial striker went as far as partying in an Atletico Madrid jersey earlier this summer, and has triggered the ire of Chelsea's devout fans. His relationship with Antonio Conte has grown many a mile past untenable, prompting many to believe that we've seen the last of Costa in a Chelsea jersey.

On the other hand, Atletico Madrid are temporarily plagued by a transfer ban that will prevent them from registering any new players. Forced to abide by the rules, Atletico are reportedly plotting to purchase Diego Costa in the next few days.

The La Liga side could then loan him out to English Premier League side Everton -- on a short-loan deal, until January -- which is when they will be able to officially register Costa.

Meanwhile, Everton's manager, Ronald Koeman, has admitted interest in the striker and has also refused to end speculation over a potential loan deal for Diego Costa.

With just 3 days left until the transfer deadline, Costa's fate hangs precariously in the balance, as the three involved clubs attempt to hash out a settlement.

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Author's take

After losing Romelu Lukaku, Everton have wasted no time in reinvesting those funds in other areas and have already heavily bolstered their squad. The return of the club's prodigal son, Wayne Rooney, has fans buzzing with excitement.

The further addition of Diego Costa would provide the Merseyside club with a menacing and experienced front-line, capable of destroying defences on their day. With time running out, fans of both clubs will remain on tenterhooks as they wait for this saga to play out.