Reports in Italy last month claimed that the Sassuolo ace had already agreed to join Inter Milan in the summer.
However, it appears as though that suggestion was wide of the mark and now the chasing pack have been given fresh hope ahead of the summer transfer window.
Both Liverpool and Spurs have been extensively linked with the 22-year-old striker, who has scored 40 goals in 102 Serie A outings for the club.
But, according to El Mundo Deportivo, Atletico Madrid are drawing up a second approach for Berardi.
The Spanish club, who had an offer rebuffed by Sassuolo last summer, have sent scouts to watch him in action this month and are now hopeful of concluding a deal.