Chelsea are set to undergo a transfer ban this summer which will mean they will not be allowed to register new players.
There is an appeal in place but this will, at best, freeze the punishment this summer before coming into play in January.
It means that the Blues may have to utilize their mass loan army, which has accumulated to over 40 players this season alone.
One of them plying his trade for another club is Morata, who failed to hit the heights under Antonio Conte and then Maurizio Sarri and was subsequently sent out to Atletico Madrid.
Since moving back to the Spanish capital for a third time, the 26-year-old has continued to struggle in front of goal.
In the Premier League this year, the Spaniard scored just five times and after moving to La Liga in January, he scored six.
But the former Real Madrid hotshot has revealed he has no intention of returning to London and wants to stay at Atletico.
He said: “I put my everything into joining Atletico Madrid and now I will put my everything into staying here.
“I don’t even consider going to another club. I’m delighted & I think I have to do a lot of things here.
“I don’t have anything else in mind, I would like to be at Atletico all the years that I have left of my career, to be as important as possible in the future.”
It has drawn criticism from Chelsea fans, who would be more than happy for him to stay in his native country despite his £57m transfer fee.
One fan said: “Players who play for the Chelsea badge have fans’ respect even if they aren’t talented or world class but guys like Morata should never be allowed to enter The Bridge after what he has said.”
Another said: “I’d rather we remain with academy players, Alvaro is a nightmare I don’t wanna relive.”
This fan tweeted: “And as Chelsea fans, we’ve put everything into getting rid of him. And we will put our everything into keeping him away.”
Mortal is able to complete a permanent move to Atletico if they trigger a clause in his loan deal worth £50m.
The transfer is made the all more likely by the impending departures of Diego Costa and Antoine Griezmann, with of whom have asked to leave Diego Simeone’s side.