Michu, 26, has been one of the star performers for the club this season and has attracted interest from both Manchester United and Liverpool among others in the race to sign the Spaniard. United boss Sir Alex Ferguson is believed to be further keen in strengthening his midfield area and has now been strongly linked with a move for the playmaker.
Meanwhile, Liverpool are also expected to bring in new faces during the summer and have, reportedly, been monitoring the player for the entire season although the player is yet to get a call-up to the Spanish national team.
Elsewhere, Marca has reported that Italian Serie A side Napoli are also in the hunt to sign Michu and are hoping to seal the $16.15 million (£10million) deal ahead of the other clubs pursuing the player, especially Liverpool and United.
Apart from Liverpool, United and Napoli, Michu is also a primary target for Spanish sides Atletico Madrid and Valencia, and French Ligue 1 side Lyon, according to a Talksport report.
Miguel Perez Cuesta, aka Michu, who arrived from Spanish Segunda Division (or second division) side Celta Vigo in 2011, has made 30 appearances for the Campo de Futbol de Vallecas-based side in all competitions and has managed to score 15 times thus far.