Atletico Madrid have joined the race to sign Chukwueze, with the La Liga side ready to splash €50 million on the Nigeria international forward, according to reports from Mundo Deportivo via Fichajes.
Chukwueze has not really reached the heights of last season, but he has contributed three goals and one assist in 32 league matches as the Yellow Submarines hunt for a Champions League spot.
Premier League leaders Liverpool had a €35 million bid for the Nigerian forward rejected in January, according to France Football.
Chelsea have also been linked with a move for the young forward, who helped Nigeria to a third-place finish at the African Cup of Nations tournament last year.
Atletico Madrid boss Simeone is believed to be in search of an attacker after seeing Antoine Griezmann depart to Barcelona last summer. At the same time, the likes of Thomas Lemar, Alvaro Morata, and Joao Felix have had underwhelming campaigns.
Villarreal will have to do better than their offer of €50 million for a winger who is believed to have a €65 million release clause in his contract.