The 20-year-old Brazilian, a defensive midfielder, has shone at promoted Portuguese side Famalicao.
And just months after a free transfer move from Atletico, Assuncao, son of ex-Atleti star Paulo, is valued at €15m.
According to a report by Mundo Deportivo, citing Portuguese sources, Patrick Vieira’s Nice are ‘very interested’ in signing Assuncao.
The €15m valuation is considerable but Nice have an enormous €80m transfer budget this summer.
Assuncao still has a place in his heart for former club Atletico and often winks at them on social media.
The youngster’s dream would be a Madrid return, but for now a move to the French top flight could be on the cards.