According to Sami Mokbel of The Daily Mail, the striker "has his heart set on a return to Spain."
Torres had some good years with Athletico Madrid, so the Spanish club would certainly be interested in the possible reunion.
On the other hand, Chelsea would be excited to see the disgruntled former star leave town as soon as possible.
The Spanish forward was at one point one of the top scorers in the world. He peaked in 2007-2008 when he scored 24 goals in league play and a total of 33 goals in 46 appearances.
This type of production caused Chelsea to bring him on board for a record £50 million. It turns out that this was a mistake.
After just 18 goals in 85 appearances, Torres has been a massive disappointment. He just hit his low point when he was axed for the important Champions League match against Juventus.
Neil Ashton of The Daily Mail reported that this is a problem that will soon be rectified:
Blues owner Roman Abramovich has accepted his £50million gamble on the Spain international has failed and was ready to move the striker out of Stamford Bridge.
It takes a big man to admit his mistake, but it is not always easy to rectify the situation. Fortunately, the market for Torres should still be high based on his past performance and solid international play.
Should Fernando Torres stay with Chelsea?
However, Chelsea still needs to worry about potentially replacing the striker in an effort to stay competitive in the English Premier League. Dan Silver of MirrorFootball.co.uk reported that new manager Rafa Benitez already has his eye on a few targets.
Radamel Falcao of Athletico Madrid and Bayer Leverkusen's Andre Schurrle would both be worthy of transfer, although they will not come cheap. Brazilian star Paulinho is also a possibility.
If the Blues are able to get any of these players, Torres will be quickly forgotten in Stamford Bridge as the team looks to win many more trophies.