Manchester United, Liverpool, Chelsea and Arsenal have all been linked with moves for Torres in the past and would be forced to offer at least £15million for his services.
Tottenham, West Ham and Newcastle also have the funds to mount rival bids - but the lure of Champions League football gives the big four a major advantage.
The 23-year-old has scored 82 goals in 212 league appearance for Atletico, while his record for Spain is 14 in 42 games.
His club's failure to earn a UEFA Cup slot this season means they are expecting to lose their star forward and the Premier League is the most likely destination.
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