The Blues are aiming to sign a young marksman in the current transfer window and Omorodion is one of their main targets.
They recently made an offer of €40m for the Spain youth international, but the proposal was immediately rejected by Atletico.
The striker currently has a release clause worth €80m in his deal, but the Blues remain optimistic of signing him for less.
Football Insider claim that the London giants will make a fresh offer for the youngster, who scored nine goals for Alaves on loan last term.
His statistics were not exemplary by any means, but the 20-year-old’s strong physical presence reportedly caught the eye of the Blues.
The Blues believe he would suit the Premier League, but it won’t be easy to convince Atletico, who consider him as a star of the future.
Atletico are most likely to reject an improved bid from the Blues.