Chelsea midfielder Conor Gallagher is reportedly preparing to board a plane destined for Spain as he finalises a £34m move to Atletico Madrid.

While speculation surrounding the midfielder's future has been rife for several months due to his contract situation, talk of a possible transfer has dominated the talk of the market in recent days.

Gallagher entered the last year of his Chelsea deal a couple of months ago, but both he and the Blues were thought to have been open to extending their partnership beyond the end of 2025.

However, the two parties could not come to an agreement over the length of a renewal, as while Gallagher wanted a long-term stay, Chelsea were only prepared to offer two fixed years with a 12-month option.

New Blues boss Enzo Maresca reportedly informed Gallagher that he would only be a squad player next season, in spite of his crucial role under Mauricio Pochettino, and there were claims that he had even been banished from the first-team facilities.

Gallagher 'says yes' to Atletico Madrid move

While Chelsea and Gallagher's contract discussions failed to bear fruit, Spanish giants Atletico fought tooth and nail to bring him to the Wanda Metropolitano, and the Rojiblancos are believed to have had a £34m bid accepted by the Blues.

Diego Simeone's side were seemingly facing a tougher battle to convince Gallagher to leave his boyhood club, but according to Sky Sports News, the England international has now given the green light to the transfer.

Gallagher has apparently agreed a five-year deal with Atletico until the end of the 2028-29 campaign, and he will fly to the Spanish capital on Monday to complete his medical and finalise his £34m move.

The 24-year-old gave the thumbs-up to Atletico despite reported late efforts from two members of the Premier League's Big Six, following claims that Tottenham Hotspur wanted to bring him to North London.

The report adds that Aston Villa also offered Chelsea a larger sum than Atletico, but Gallagher rejected the chance to join Unai Emery's side when he was still hopeful of staying on at Stamford Bridge.

However, a renewal agreement could not be reached, and the England international will bid farewell to Chelsea following 16 years of service, having joined their academy in 2008 before loan spells at Charlton Athletic, Swansea City, West Bromwich Albion and Crystal Palace.

Gallagher leaves with 10 goals and 10 assists to show from 95 games for the Blues, winning one trophy in the shape of the 2018-19 Europa League, although he did not play a single minute in that competition.

Who could Chelsea sign to replace Gallagher?

As the Gallagher saga nears an end, attention now turns to midfielders who could potentially step into the 24-year-old's shoes in West London, and Celtic's Matt O'Riley has been identified as an ideal candidate.

Atletico were strongly linked with a move for the Denmark international before swooping for Gallagher, so Chelsea selling the Englishman to Simeone's side removes a significant obstacle in their efforts to sign O'Riley, who should no longer be on Los Rojiblancos' radar.

Europa League winners Atalanta BC are also thought to be interested in O'Riley, but Chelsea have already added Kiernan Dewsbury-Hall and Renato Veiga to their midfield ranks this summer.