Both Sky Sports and the BBC reported Barca would pay City a further €10 million in add-ons for the 21-year-old Spanish international.

The deal comes despite severe financial difficulties at the club.

They had to let club great Lionel Messi leave in the summer due to “financial and structural obstacles” and have debts of more than €1.35 billion.

Their attacking options were weakened further with the retirement of striker Sergio Aguero last week due to a heart condition.

City signed Torres in August last year on a five-year deal for a reported fee of €23 million, but former Valencia forward made only 43 appearances, scoring 16 times.

Torres, who has played 22 times for Spain scoring 12 goals, has been out of action since sustaining a minor fracture on his right foot during the Uefa Nations League campaign.

Barcelona are seventh in La Liga after a poor start to the season which resulted in the sacking of coach Ronald Koeman, with club great Xavi Hernandez taking over.