The Sunday Mirror reports that City are keen to cash in on the chaos at Anfield by making a move for Torres.
Liverpool are struggling with £351m debts, but new chairman Martin Broughton has insisted they do not need to sell Torres.
City are reportedly ready to offer Torres a deal worth £200,000-a-week that would include a clause that will allow him to leave the club, should they fail to qualify for Champions League next season.
