The Blues owner Roman Abramovich is frustrated with the Spaniard's performance after 26 months at the club. Torres, 28, has failed to recreate the magic he showed during his Liverpool days.
Russian giants Anzhi Makhachkala are ready to offer Torres an escape route with a bid in the summer, but the Spaniard would like to rejoin his former side Atletico Madrid which could tempt Chelsea to sign Radamel Falcao.
Falcao has been a long-term target but Chelsea have been hit with their £45million asking price. The Blues can use Torres as bait and secure the signature of Falcao with a huge £10m-a-year wage offer.
Chelsea suffered defeat in Thursday's Europa League's against Steaua Bucharest and Torres went through another frustrating night without scoring. The 28-year old Spaniard scored just once in his last 18 games.
In his first season at the Bridge Torres managed to score only one goal in 18 appearances in all competitions. Despite the presence of Didier Drogba, Torres made 49 appearances the following season scoring only 11 goals, six in 32 appearances in the Premier League.
Torres is now second choice to Demba Ba and will lose his place against Manchester United in Sunday's FA Cup quarter-final at Old Trafford.