Milan Transfer News and Rumours Tracker: Week of December 22

'Tis the season for shopping and bargains. And Milan love their bargains.

AC Milan appear to have ended the Spaniard's two-year loan from Chelsea.

Sky Sports correspondent Gianluca Di Marzio reports that Atletico Madrid and Milan reached a deal on Christmas Eve to swap Fernando Torres and Alessio Cerci.

Let's take a close look at the deal and the week's rumours.

–UPDATED ON WEDNESDAY, DECEMBER 23—

Fernando Torres Goes Back Home

Paolo Lazzeroni/Associated Press

According to Di Marzio, both Milan and Atletico "agreed to an 18 month loan swap deal" between Torres and Cerci.

Both players have failed to settle at either club since their summer transfers. Torres scored just once in 10 appearances and Cerci did not even start a match for Atletico.

Chelsea would have given permission to such a move, as they still own Torres.

Stephan El Shaarawy on the Way Out?

Antonio Calanni/Associated Press

The month began with rumours indicating the possibility of Milan selling the unsellable: Stephan El Shaarawy.

Calciomercato and Corriere della Sera (h/t Football Italia) suggested that Milan could sell the 22-year-old to Borussia Dortmund. 

But Roma, Liverpool and Arsenal are also tracking him, according to more recent reports. And Milan could end up selling an asset simply to balance the books—again.

Tuttosport reported last week that Milan lost €70 million in 2014 (h/t Football Italia). Selling El Shaarawy, who is worth around €30 million, could recoup almost half of those losses.

But his brother and agent Manuel told Gianluca Di Marzio's website that no club has contacted him. "Stephan will not leave Milan in January unless there is a sensational offer," Manuel El Shaarawy said (h/t Football Italia), "the type that no one can be sure will arrive."

Adel Taarabt Wants Milan Move

Tano Pecoraro/Associated Press

Adel Taarabt is still holding out for a move back to Milan.

Mainly, he just wants to return to Italy. "Because I feel at home, because my parents came to watch me play and they felt close to me," he told Gianluca Di Marzio.

Right now, Taarabt is still technically a QPR player. But coach Harry Redknapp has not selected him or even called him up to recent matches. 

Milan did not offer him a chance to prolong his stay in the summer, and now clubs like Atalanta and even Inter could pick him up. He is willing to take a pay cut from his £65,000-a-week wages just to re-join Milan.

"

Taarabt: "Would I play for Inter? I don't know. I played for Milan, so the fans wouldn't like it, but I'm a professional."

— AC Milan News (@Milanello) December 15, 2014"

Taarabt scored four goals in 14 games on loan last year with the Rossoneri.