The Spain international is the subject of intense interest from Barcelona.
The Catalans have made an opening offer of €40m for Torres, though City are demanding €80m to part with the attacker in January.
AS says watching on is Valencia, which sold Torres to City last year and included a five per cent sell-on fee in the deal.
As such, VCF could be due as much as €8m should Barca agree to meet City's current valuation.
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