Spurs have been looking to find Reguilon a new club as boss Antonio Conte does not see him playing a part under him this season.
The full-back’s situation at the Tottenham Hotspur Stadium has seen him attract interest from a host of clubs, including Fulham, Nottingham Forest and Lazio.
La Liga giants Atletico Madrid also emerged as a potential suitor for Reguilon as they have been looking for a player to replace Renan Lodi, who is closing in on a move to the Tricky Trees.
The Spanish giants have been in negotiations with Spurs over a move for Reguilon and have now made significant progress.
Atletico Madrid are close to reaching an agreement with the north London giants over a deal for Reguilon on a temporary basis.
The Rojiblancos are set to sign the Spaniard on a simple loan deal without an option or obligation to make his move permanent.
Atletico Madrid can offer Reguilon Champions League football in addition to an opportunity to clock up game time on a regular basis and the player is keen on a return to Madrid.
