Sergio `Kun` Aguero, the Atletico Madrid forward, continues to dominate the transfer headlines and in the last few days there have been conflicting reports coming out of both Spain and England regarding the player`s future....

Writing in

today, I have explained that on Wednesday, the Atletico Madrid majority shareholder, Miguel Angel Gil, told a press conference that the Spanish club had turned down an offer from Chelsea in the summer, before adding "We have had another opportunity (to sell him) and again we have said no,” -  without naming the interested club.” At the same time, Atletico sources were leaking that a new £48million bid from Stamford Bridge had been rejected in the last few days.

However, I can tell you that there has not yet been a recent bid from Chelsea. Instead, this was an attempt by Atletico Madrid to make public that a fee in the region of £55million would be enough to open discussions, without actually coming out and saying so: because to do so would trigger an extremely hostile response from an already disaffected Atletico fanbase.

The situation at Atletico is complex, and while some reports suggest that Spanish side`s mounting debts will force them into a January sale (they owe the Spanish exchequer around £185million in taxes, £30million of which must be paid within 12 months) – the reality is that factions within this divided club believe they can meet those payments without being forced into selling Aguero. The feeling amongst those opposed to selling their star player now is that at 21 years of age, he will be worth considerably more in a few years time – and they are eager to wait until he realises his full potential....and market value.

Furthermore, the political situation at Atletico and the relationship with the fans is so volatile that, with the club mired in a relegation battle, selling off Aguero at this time could be the spark that causes an explosion.  It is because of this that the suggestion of a loan deal – mooted in several press reports – is simply out of the question for Atletico. The club knows they would face six months of turmoil surrounding the player, while Aguero and his advisors realise that it would be the most difficult six months of his life were he to agree a move to Chelsea while playing out the season at Atletico Madrid. A January move would present a whole host of problems for a player looking forward to a World Cup in the summer.

Aguero has the potential to be one of the top five players in the world, he is still only 21 and it is true that Chelsea have decided upon either Kun or Franck Ribery as transfer targets. The Frenchman, now at Bayern Munich, has set his heart on joining real Madrid -and could already have agreed to do so. That leaves Aguero, who is happy to move on, but not before the end of the season, as a priority for Ancelotti.

Chelsea`s impending transfer ban – that should be in place in the summer – combined with the loss of Didier Drogba and Salomon Kalou to the African Cup of Nations, leaves Chelsea with some tough choices in the new year.

This  column first published in The Mirror appears in conjunction with www.icons.com