Baku’s Olympic Stadium has already secured rights to games during the Euro 2020 national team tournament. Atletico’s new Metropolitano Stadium will open later this year when the club moves from its current long-time home – the Vicente Calderon. Both stadiums have capacities of around 70,000.
UEFA said its executive committee will choose a host in September.
This season's Champions League final will be played at the Millennium Stadium in Cardiff, Wales, which was overlooked for Euro 2020.
Next year, the Olympic Stadium in Kiev, Ukraine, will host the match weeks before the World Cup kicks off in neighboring Russia.