The 26-year-old continues to be a vital player for Hansi Flick with 21 goals scored in all competitions last season as a career high for the Spain international as part of back-to-back LaLiga title wins.
However, his lack of certainty as a starter, and Barcelona’s ongoing interest in Karim Adeyemi had raised doubts over Flick’s plans for him as he can negotiate a free transfer with non-Spanish clubs from the start of 2027.
PSG have registered an interest in pursuing him from January, but Barcelona are in talks with his representatives over a renewal, as he remains on World Cup duty with La Roja.
Reports from Mundo Deportivo indicate Barcelona will hold back on formally offering a new contract until the star of September due to Financial Fair Pay rules within the current transfer window.
Flick wants to sign at least two more players before the end of August, and the addition of an expensive extension for Torres could tip the financial balance for Barcelona, which the club want to avoid.
Barcelona are also required to pay Manchester City around £8M, if Torres does sign a new contract, as per an agreement put in place following his original move from the Etihad Stadium back in 2021.