The deal is worth a reported £35m for the forward who has scored 73 goals in 84 games for the Portuguese side.
The 25-year-old Colombian will move to the Spanish capital subject to a medical and personal terms.
Atletico recently sold Argentine striker Sergio Aguero to Manchester City for £38m.
Restore Data
| Team | P | W | D | L | F | A | GD | PTS | |
| 1 | Real Madrid | 22 | 15 | 4 | 3 | 50 | 21 | 29 | 49 |
| 2 | Atletico MadridAtletico | 22 | 14 | 6 | 2 | 37 | 14 | 23 | 48 |
| 3 | Barcelona | 22 | 14 | 3 | 5 | 60 | 24 | 36 | 45 |
| 4 | Athletic Bilbao | 22 | 11 | 8 | 3 | 33 | 20 | 13 | 41 |
| 5 | Villarreal | 22 | 10 | 7 | 5 | 44 | 33 | 11 | 37 |
| 6 | Rayo Vallecano | 22 | 8 | 8 | 6 | 26 | 24 | 2 | 32 |
| 7 | GironaGirona | 22 | 9 | 4 | 9 | 31 | 30 | 1 | 31 |
| 8 | Osasuna | 22 | 7 | 9 | 6 | 27 | 31 | -4 | 30 |
| 9 | Mallorca | 22 | 9 | 3 | 10 | 19 | 28 | -9 | 30 |
| 10 | Real BetisBetis | 22 | 7 | 8 | 7 | 25 | 28 | -3 | 29 |
| 11 | Real Sociedad | 22 | 8 | 4 | 10 | 18 | 19 | -1 | 28 |
| 12 | Sevilla | 22 | 7 | 7 | 8 | 24 | 30 | -6 | 28 |
| 13 | Celta Vigo | 22 | 7 | 4 | 11 | 31 | 35 | -4 | 25 |
| 14 | Getafe | 22 | 5 | 9 | 8 | 17 | 17 | 0 | 24 |
| 15 | Las PalmasLas Palmas | 22 | 6 | 5 | 11 | 27 | 36 | -9 | 23 |
| 16 | Leganes | 22 | 5 | 8 | 9 | 19 | 30 | -11 | 23 |
| 17 | Espanyol | 22 | 6 | 5 | 11 | 21 | 33 | -12 | 23 |
| 18 | AlavesAlaves | 22 | 5 | 6 | 11 | 25 | 34 | -9 | 21 |
| 19 | Valencia | 22 | 4 | 7 | 11 | 22 | 37 | -15 | 19 |
| 20 | Real ValladolidValladolid | 22 | 4 | 3 | 15 | 15 | 47 | -32 | 15 |
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