Chelsea have been chasing Atletico striker Radamel Falcao, who has a £50m buyout clause on his contract, and with a cash-plus-player swap deal is likely on the cards in the summer.
Torres has had a torrid time at the Bridge and Chelsea are growing frustrated over his lack of goal in front of goal. The player who broke the British transfer record in 2011 has scored just 14 Premier League goals in 51 appearances for Chelsea.
Atletico manager Diego Simeone, who played with Torres during his spell at Atletico, was questioned about the possibility of a move for the striker and he said: "Fernando's playing for another team and we will have to wait until the end of the season, and we have to decide which players could come here."
"Fernando knows the history of Atletico Madrid, he knows what it means to play for this club. I don't need to speak about his ability as we were team-mates. I know how important he can be," he said.
Meanwhile, Falcao has been on Chelsea's radar since the start of the season and Roman Abramovich is willing to break the bank to sign the Colombian striker. Chelsea are ready to offer nearly £10million-a-year in wages for Falcao who has been in great goal-scoring form for both club and country.
'It's complicated. I wouldn't like to say yes or no. He's a player who always performs and we have to respect his choice," Simeone said.
Chelsea are willing to incur losses on Torres's sale and are ready to sell him for £15million and with Atletico facing financial problems they could sell their star striker in the summer.