Speaking ahead of Atletico’s trip to Valencia on Sunday, Simeone described Luis as an “extremely important player” and “one we want to keep a lot”.
The player in question has one year remaining on his existing contract but appears second choice to France’s World Cup winner Lucas Hernandez this term.
Real Madrid are reportedly considering whether to rehire Lyon striker Mariano Diaz.
Diaz, 25, spent five years at Santiago Bernabeu before he was sold to the Ligue 1 outfit in 2017. A flurry of 21 goals in 45 appearances have followed.
Marca have reported that such form has piqued the interest of the Spain-born, Dominican Republic international’s former employers.
Los Blancos view him as an alternative target to Bayern Munich’s Robert Lewandowski, Internazionale’s Mauro Icardi and RB Leipzig’s Timo Werner.
The 22-year-old is one of European’s most promising young players, but he will not come cheap if leading sides decide to make a move for the German international.
Sky Blues boss Pep Guardiola is keen on the exciting midfielder and scouts have watched the former 1860 Munich prodigy, who has been a star at Westfalenstadion over the past three years.
Dortmund are keen to keep hold of the youngster but could be resigned to losing him if City or PSG put their full weight behind a transfer bid before the end of the transfer window on August 31.