Chelsea are happy for Torres to depart either on loan or on a permanent deal and, according to Sky sources, Roma's Mattia Destro is being viewed as a possible replacement if the move goes through.
There is no agreement yet between Milan and Torres, who is believed to be on £180,000 a week at Stamford Bridge, but talks resumed on Thursday and are going well.
And Chelsea's record £50million signing could now be on his way out of the club before Monday night's transfer deadline.
Milan also want Chelsea midfielder Marco van Ginkel on loan, but Sky sources are indicating that deal is unlikely to happen at the moment.
Destro, meanwhile, has emerged as a Chelsea target after scoring 13 times for Roma last season and is valued at around £20m.