Manchester City are prepared to make Fernando Torres the world's richest footballer in an attempt to land the Liverpool striker, but he is ready to turn them down in favour of a move to Chelsea, Soccernet understands.
One of the men at the centre of secret talks about a possible move has disclosed that while City are ready to outbid Chelsea, Torres is more interested in playing Champions League football next season.
"City were ready to offer Fernando Torres a huge contract, and by that I mean the biggest for any footballer anywhere in the world," the source told Soccernet. "But Torres said 'no', he was not interested."
Although no formal contract offer can be made by City as they have not agreed any fee with Liverpool, the middlemen have been working feverishly behind the scenes.
Torres has been made aware of the enormous salary being put in front of his advisors to tempt him to Eastlands, with the deal reportedly equal to the phenomenal wages Cristiano Ronaldo commands at Real Madrid - more than £200,000-a-week plus image rights and bonuses.
The source close to the deal confirmed that "negotiations" are already now underway behind the scenes involving Chelsea, who have made Torres aware of their interest, in a move that is being privately reciprocated.
The source told Soccernet: "Yes, negotiations are going on behind the scenes, and just how much Chelsea would offer in a transfer fee and wages is not something I am prepared to discuss at this point."
While managerless Liverpool are likely to hold out for £70 million for Torres, Chelsea believe a more realistic price is £50 million, so a lot of hard bargaining can be expected once Roman Abramovich authorises the first official offer for Torres.
Another source close to the Torres 'talks' is convinced that Chelsea may have already tabled a bid in the region of £45 million, well short of what Liverpool might expect, but that no response has so far been forthcoming, with Liverpool dispensing with one manager and recruiting another who might have strong views about whether Torres should be allowed to go, if he wishes to leave.