Atletico Madrid Look to Raise Funds for Diego Costa by Offering Gaitan to Watford

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Atletico Madrid have offered Argentina international Nicolas Gaitan to Watford as they look to free up funds in order to sign Chelsea hitman Diego Costa, despite being held under a transfer embargo until January. 

This is according to Duncan Castles, who reports on Twitter that Diego Simeone's side are looking to offload the former Benfica man initially on a season-long loan deal to Marco Silva's Watford worth a reported €2m with an option to buy. 

The 29-year-old joined the Spanish side in a £19.7m move from Benfica last summer, but has endured a disappointing year in the Spanish capital and now looks surplus to requirements after recording a mere four goals and five assists. 

Madrid are hoping to tie up a deal for Costa in this window, with the intention of loaning him out until January when they can officially begin to register new players. 

His signing should be quite a costly one, with Chelsea reportedly holding out for a £50m fee in addition to the Brazilian born Spaniard's rumoured £185k weekly wage. 

Gaitan was considered to be one of Europe's hottest prospects not so long ago, and could turn out to be a coup for Watford should a move to Vicarage Road materialise for the winger. In addition to this, a €2m loan fee with no obligation to buy resembles a move with minimal risks for the London side, and could be a move that Silva may be interested in.