The Sunday Express says Atletico will offer Torres the chance to return to the scene of his former glories in the summer with a possible season-long loan deal.
And Torres, who has never denied that Atletico “will always be my club”, would probably jump at the chance to go home to the team that launched him on the road to £50million stardom and where the fans still worship him.
Juventus and the Turkish giants, Besiktas, are also understood to be monitoring how this season pans out for him at Stamford Bridge.
But if the sorry Spaniard does indicate that he wants out of Chelsea after a seemingly never-ending nightmare since he moved there from Liverpool for £50m two years ago, Atletico would almost certainly be his favoured destination.
“Atletico love Fernando and Fernando loves Atletico,” one Spanish source said last night.
“He might have to take less wages to make it happen, but it would be a match made in heaven if it does.”