Porto have confirmed Jackson Martinez's move to Atletico Madrid has taken a step closer after the Liga club met the release clause in his contract.

The striker has been widely tipped to leave the Stadio Dragao after three years in Portugal, with Atletico, Arsenal and Milan all linked with a move.

However, last week the Spanish club emerged as favourites to land the 28-year-old, with Martinez telling reporters at the Copa America he would sign a four-year deal in Madrid.

And Porto have now confirmed to the Portuguese Securities and Market Commission that Atletico have activated the €35million clause in his contract, paving the way for talks to begin over his transfer.

Martinez has scored 92 goals in 136 appearances for Porto, helping them to one Primeira Liga title in 2013.