Even with the transfer window closed, there has been a surprising amount of speculation still doing the rounds.
Two of the more outlandish stories come from the continent, surrounding Serie A side Fiorentina.
Torres nowadays would command less than half that fee. His time at Chelsea has not been a success, and he was not included in Vincent del Bosque's Spain squad for last night's friendly win over Uruguay.
Fiorentina have some money to spend after cashing in on Matija Nastastic to Manchester City for £13 million and Valon Behrami to Napoli for £7 million in the summer.
They spent £8 million on Giuseppe Rossi in January and £2 million on Polish starlet Rafal Wolski, and appear keen to add to their squad.
Sixth in Serie A, and four points off third place Lazio, Fiorentina are determined to reach the Champions League next season and upset the two Milan clubs in fourth and fifth along the way.
If they did, then they believe Torres can be convinced to join them. They 'rescued' Alberto Aquilani from his Liverpool nightmare signing him for just £5.5 million, and La Nazione says they hope to follow 'the same operation' to get Torres for a knockdown price.
Will it come off? We have little doubt Torres will be off this summer as Chelsea look to re-invigorate their attack, but a return to Spain would surely be his preference, to enhance his national team prospects along the way.
The Italian forward rejoined Brendan Rodgers who he had worked with at Chelsea and Swansea, but has so far struggled for form, and then suffered a fractured foot which kept him out of action for near to three months.
He was one of the players who featured against Oldham in the FA Cup defeat, and is yet to appear for the Reds since.
Italian journalist Mario Sconteri last night told a radio show that negotiations between Borini and Fiorentina not only already begun, but reached an advanced stage.
He added that the club had even considered trying to bring the Italy under-21 striker back to his country in the winter transfer window.
Borini surely won't want to abandon Liverpool just yet, but if the claim negotiations are ongoing is true then it indicates that he is at least considering an escape route if things don't pick up for him between now and May. He has just one goal for the Reds, and that was in a Europa League qualifier.
So with Fiorentina having already signed Giuseppe Rossi from Villareal, and looking at two more forwards, what does that mean for their prized asset, Stefan Jovetic?
The striker is one of Europe's hottest properties, and while he was linked with Arsenal last month, both Chelsea and Manchester City are in the race and prepared to blow the Gunners out of the water from a financial perspective.
Juventus also want the 23-year-old, but Fiorentina chairman Mario Cognigni was unequivocal this week when he said Jovetic is not for sale, and is happy at the club where he has a contract for three more seasons.
We are sure he is right that Jovetic is happy, but what if Fiorentina miss out on Champions League football this season? We suspect the club are prepared for the inevitable, and this is why they are busy looking at striker targets.
After all, can you imagine Torres signing for Fiorentina to sit on the bench?
Chelsea and Liverpool fans, do you expect Torres and Borini to be off at the end of the season, or will they stay?
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