Madrid - Striker Fernando Torres is poised to return to Atletico Madrid, according to Spanish sports dailies AS and Marca on Thursday.
Torres, 30, played for Atletico as a young forward between 2001 and 2007 - scoring 82 goals in 214 matches - before signing for Liverpool. He was sold on to Chelsea in 2011, and then loaned to AC Milan last summer.
AS and Marca said on their websites on Thursday that there was "total agreement" between Chelsea, Milan and Atletico about the return of the hugely popular Torres to the Estadio Manzanares.
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The former Spain striker is reported to sign an 18-month contract with Atletico, who are third in La Liga and in the round of 16 of the Champions League.
German Burgos, assistant to Atletico coach Diego Simeone, said on Wednesday "it would be marvellous" if Torres could return to Atletico.
As part of the deal, 27 year-old Italian winger Alessio Cerci will reportedly leave Atletico for Milan.