Atletico Madrid have confirmed that Fernando Torres is to re-join the club on an 18-month loan deal from AC Milan, subject to a medical.
Chelsea announced on Saturday that Torres, 30, would make his loan move to Milan permanent on Jan. 5, but he is to be immediately loaned to Atletico.
#AtléticosAroundTheWorld, let's welcome @Torres with the hashtag #TorresIsBack ;) pic.twitter.com/ZvWOO4CCH0
- Atleti English (@atletienglish) December 29, 2014
A statement on Atletico's official website read: "Fernando Torres returns to Atletico de Madrid after an agreement was reached by our club and Milan as the international striker will play on loan for the remainder of this season and all of next season.
"Signing with our club is subject to the relevant medical examination that the player must undergo to join the team."
The club added that the deal is to be formalised on Jan. 5, when the winter transfer market opens in Italy.
Torres made his debut with Atletico in 2001 and established himself as a star at the club before moving to Liverpool in 2007.
He then moved to Chelsea in 2011 in a deal reported to be worth 50 million pounds but, despite winning the FA Cup, Champions League and Europa League at Stamford Bridge, struggled to live up to his price tag.
A loan move to Milan in August failed to spark a revival, with the Spain international netting just one Serie A goal, and he will now return to the Vicente Calderon.
At last back home. Thanks to all that have made this dream come true. Forza @Atleti. #TorresHaVuelto pic.twitter.com/HZjMI5v6Gl
- Fernando Torres (@Torres) December 29, 2014
"The chance to join Atletico arrived and I had no doubts," Torres told a news conference in Dubai. "I'm going to Atletico in search of happiness. As a child, it was my dream to play for Atletico. I achieved that, and now to return is another dream.
"I've had a good time at other clubs, but there is nothing like Atleti."
He said he had found it "hard to leave" for Liverpool in 2007 but believes the fans know Atletico is his home and that he has "felt the sadness of defeats with them as well as sharing the joy of the triumphs, jumping up and down on the sofa during their successes."
He added: "Nobody can doubt how I feel about pulling on that shirt again. The Atleti fans always demand that you give everything on the pitch, and I can assure you that I will give all of that and more."
Former AC Milan and Real Madrid boss Fabio Capello has told Marca he believes Atletico coach Diego Simeone is capable of inspiring the striker.
"[Torres has] got it all but has lost his way a bit and is struggling to score goals," he said. "He's lost the confidence he had at Liverpool and during his first stint at Atleti."
On Simeone, he added: "He's going to make Torres come good. It's not only to do with systems -- it's a confidence thing. Torres has become a bit subdued but is going to rediscover what he's lost thanks to [Simeone]. He's going to reinvigorate him."
The deal for Torres is set to involve Atletico's Alessio Cerci joining Milan on loan, with the Italian winger having announced that he is set to undergo his medical on social media.