The news is coming out of Turkey, concretely the paper "Ayrinti", which has been picked up locally by Spanish Sports paper "As", that there is a new & firm offer from Galatasaray for this upcoming "Winter Transfer Market".
The offer is said to be for 3 seasons at 3.5M€ per year. The paper goes on further to say that the Turkish Club has sold some of its Club shares in order to raise the money to sign Reyes, thus giving more evidence that this is very serious.
I suppose that the final word is now up to Reyes, as Atletico is´nt showing signs of halting the operation. Stay tuned!