The Argentinean has worked wonders during his time with Atleti, but there is a growing feeling he could be on the look-out for a fresh challenge and a switch to the English Premier League would appeal to him.
Atletico are having a mixed bag of a season so far and it has been suggested a change would do all parties the world of good, even if it came midway through the season.
There are a couple of interesting jobs that would appeal to Simeone if he was approached, with the vacant position at Arsenal likely to be the most tempting for him.
The Gunners have parted company with former Valencia boss Unai Emery and have placed former player Freddie Ljungberg in temporary charge for now.
The Swede is unlikely to get the job on a permanent basis and the name of Simeone has been thrown into the frame by the English press, who are no doubt aware of the fact he is unsettled in Spain.
The Arsenal job is a big one, and Simeone would no doubt be tempted by the project of trying to bring the glory days back to the Gunners.
Another job that could appeal is Everton as reports suggest that Simeone will be targeted if and when they part company with Marco Silva.
The Toffees are another big club that are steeped in history and Simeone would be a hero if he could turn around their fortunes.
As well as the two English clubs, there is also talk of Paris Saint-Germain making a move at the end of the season to replace current boss Thomas Tuchel.