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Morata's hot spell with Chelsea should end before the transfer window closes at the end of the month.
The Spanish international is ready to return to Atletico – where he began his career – on loan until the end of the season.
The giants of La Liga will then acquire its services on a permanent basis this summer for a fee of 42.5 million pounds sterling.
The departure of Morata from Stamford Bridge paves the way for Gonzalo Higuain of Juventus to be loaned to Chelsea until the end of the season.
And according to Sheth, the return of the Spaniard to Madrid is slowly but surely taking place.
"This one is gaining momentum now," he said. Sky Sports Sky Talk Transfer podcast. Sky in Italy announced that his move would be completed and completely imminent.
"They continue saying that Morata will arrive in the Spanish capital this week. And they hope everything is finished and dusted so that he is available to face Getafe on Sunday.
"We are told that Morata's family is already in Madrid. You know what? It will actually be a return for Morata in an old club. Did you know that he started his young career at Atletico Madrid? Few people do it.
"Everyone is talking about the Real Madrid affair [and say]"How can he go to Atletico Madrid? Has he ever played for Real Madrid? But he actually has links with Atletico Madrid. So in a way, could you say, he's going home.
Morata, 26, joined Chelsea in the summer of 2017 from Real Madrid for £ 60 million.
The Spaniard began his career at Chelsea with flying colors, scoring 10 goals in his first 16 games for the club.
However, he quickly started to fight in front of goal, finding the back of the net five more times last season and scoring nine times in 24 games this season.
"It just did not work for him in Chelsea, is not it?" Sheth said about the fate of Morata in West London.
"If you look from [Antonio] Conté on the left, under [Maurizio] Sarri, 23 Premier League matches and he started 11.
"The way we're talking about Morata now, it sort of tells us – in relation to your question Laura, about Higuain – is that dominoes are setting themselves up with respect to recipes."
Chelsea will return to the game tomorrow night, welcoming Tottenham to Stamford Bridge for the return leg of his Carabao Cup semifinal.
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