Citing reports in Spain, the Portuguese news outlet claims the Spaniard could be ready to leave Stamford Bridge after three and a half years at the west London club.
And Liverpool are reportedly keen to secure a cut-price return for a player they sold for £50m in the 2011 January transfer window. But Arsenal boss Arsene Wenger is reportedly also aware of Torres's potential availability and is considering a bid.
The Gunners have come under huge pressure from their own fans this transfer window, and with less than a week to go, Wenger wants a big-money signing to strengthen his squad.
They've been linked with several strikers - including Gonzalo Higuain and Luis Suarez - but have so far been forced to rely on the in-form Olivier Giroud.
But injuries to Arsenal's squad this week have underlined the fragility of a understaffed club, and Wenger insists he's still in the market for new players.
Liverpool, in contrast, have been busy already this window - snapping up Luis Alberto and Iago Aspas from La Liga clubs and Kolo Toure on a free transfer - but with uncertainty surrounding the future of Suarez, they could be on the lookout for another forward to lead the line.
Meanwhile at Chelsea, Jose Mourinho is expected to complete the signing of Samuel Eto'o from Anzhi Makhachkala this week.
And considering Torres started just one of three Chelsea matches this season, speculation is mounting that the Chelsea boss is willing to let the club record signing leave before the end of the window.