Atletico Madrid will offer young midfielder Oliver Torres a lucrative new contract to fend off interest from Chelsea, according to reports in Spain.
Chelsea had been keen to raid the Spanish club for Torres, who shone for his national side during their successful Under-19 European Championship campaign earlier this month.
And the midfielder was said to be intrigued by the prospect of moving to England and linking up with namesake and former Atletico Madrid idol Fernando Torres.
However, according to Spanish newspaper Marca, Atletico believe Torres will form a key part of their side in years to come, and will offer him a big-money deal to stay at the Vicente Calderon until 2017.
Torres was also believed to be on the radar of Manchester United boss Sir Alex Ferguson earlier this year.