Fernando Torres Transfer: AC Milan Finalize Deal for Chelsea Striker, Spanish Star Could Return to Atletico Madrid

Chelsea agreed to send Fernando Torres to AC Milan on a permanent basis, the club announced on Saturday.

Chelsea sent Torres to AC Milan on a two-year loan deal in August and the two clubs decided to make the striker's move to the Italian Serie A permanent starting January 5 next year.

"Fernando Torres is to join AC Milan on a permanent basis," Chelsea announced in a statement. "The striker moved to the San Siro on a two-year loan deal in August and on January 5 he will complete a permanent transfer to the Serie A side."

Torres, who moved to Stamford Bridge from Liverpool in 2011, enjoyed a successful career with the Blues. The 30-year-old forward helped the Blues win the Champions League, FA Cup and Europa League.

The Spain international will be best remembered for his performance against FC Barcelona in the semifinals of the 2012 UEFA Champions League. Torres also scored the game-winning goal against Benfica in their Europa League triumph in 2013.

"Chelsea Football Club thanks Fernando for his service during the past four seasons and wishes him the very best for the future," the club added.

But while Chelsea and AC Milan finalized the transfer deal for Torres, reports indicated that the 2010 World Cup winner will be on the move again soon.

According to The Guardian, AC Milan are also in talks with Atletico Madrid about a possible loan agreement that will send Torres back to his former club.

Atletico Madrid assistant coach German Burgos said that they are close to finalizing a deal to acquire Torres, who has been struggling to regain his form in the Italian league, where he has only netted one goal in 10 matches.

"It is on the verge of completion and we are waiting for things to firm up," Burgos said of acquiring Torres via a loan agreement with AC Milan. "He will be a very important reinforcement for the second half of the season. We will get the best out of him, the same as everyone, and he knows where he is coming to."

According to reports, Atletico will send Italian winger Alessio Cerci to AC Milan as part of the loan deal for Torres, which will be in effect until after the 2015-16 season.