Spanish side looking to move the player on come the summer.
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Atletico Madrid are preparing for the exit of striker Adrian according to tuttomercatoweb.
The Spanish striker was strongly linked with a move to Arsenal during the January transfer window but a move failed to materialise after the two clubs could not agree a fee.
But Adrian has been inconsistent since then and the Spanish club are thought to be ready to accept a reduced bid for the player.
Arsenal remain keen to bring in attacking reinforcements following the loss of Robin Van Persie to Manchester United last summer.
Arsenal boss Arsene Wenger brought in Lukas Podolski and Olivier Giroud to replace the Dutchman but the pair have endured disappointing debut seasons and Wenger looks set to return to the transfer market once more.
Everton boss David Moyes is keen to bring in a new striker after becoming frustrated with the inconsistent displays of striker Nikica Jelavic. They could fund a move for Adrian through the sale of Belgian midfielder Marouane Fellaini, who is wanted by the likes of Chelsea, Manchester City and Real Madrid.
Tottenham are also in the market for attacking reinforcements after a disappointing season from Manu Adebayor and Jermain Defoe’s sudden loss of form since the turn of the year.