By Toby Prince
Simeone, 45, is one of the world’s most highly-rated managers with the Argentine being a huge success in the Spanish capital.
The former River Plate boss has been in charge of Atletico since 2011 and has won La Liga, the Europa League and the Copa del Rey during his four years in charge. He also led his club to the 2014 Champions League final.
Chelsea are believed to be considering life after Mourinho if the iconic boss fails to save the Blues’ season.
Reports say the Chelsea hierarchy is interested in Simeone, but they are aware that he will cost a great deal to lure to Stamford Bridge.
The 45-year-old signed a new five-year contract worth a staggering ÂŁ22.5 million earlier this year, while his deal also has a release clause which can be triggered if a ÂŁ15m offer is made.
Chelsea have made a woeful start to the 2015/16 campaign and currently find themselves in 16th position with just eight points from their opening eight games.
The Blues have been extremely poor defensively, which is uncharacteristic for a Mourinho team.
Chelsea have conceded 17 goals in the league this season, only Sunderland (18) have let in more goals.
Sunderland recently fired Dick Advocaat as manager, replacing him with Sam Allardyce,