Chelsea owner Roman Abramovich is ready to admit defeat over £50 million striker Fernando Torres.

The Daily Mail says after Didier Drogba's departure in the summer, Abramovich had hoped Torres would finally rediscover the form that persuaded him to smash the British transfer record to sign him from Liverpool in 2011.

But the 28-year-old has shown little sign of improvement, scoring only four Premier League goals this season and delivering another disappointing performance against Liverpool last weekend.

It has been mooted in Spain that Torres could return to his beloved Atletico, who sold him to Liverpool for £25m in 2007, as part of the deal that takes Radamel Falcao to London.