AC Milan have confirmed talks with Atletico Madrid over a swap deal involving Fernando Torres. Milan say negotiations are "advanced" to exchange Alessio Cerci with Fernando Torres at Atletico Madrid.

Milan Channel - the official television station of the club - announced on Christmas Eve that negotiations with Atletico for the deal are "at an advanced stage."

Torres - who is on a two-year loan from Chelsea - would be loaned out to Atleti for the remaining 18 months of that deal. Cerci would come to Milan for six months.