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Fernando Torres Transfer Price Set Between Liverpool and Chelsea

Liverpool's Fernando Torres, right, vies for the ball against Fulham's Danny Murphy during their English Premier League soccer match at Anfield, Liverpool, England, Wednesday Jan. 26, 2011. (AP Photo/Tim Hales) NO INTERNET/MOBILE USAGE WITHOUT FOOTBALL ASSOCIATION PREMIER LEAGUE (FAPL) LICENCE. CALL +44 (0) 20 7864 9121 or EMAIL info@football-dataco.com FOR DETAILS

Liverpool's Fernando Torres, right, vies for the ball against Fulham's Danny Murphy during their English Premier League soccer match at Anfield, Liverpool, England, Wednesday Jan. 26, 2011. (AP Photo/Tim Hales) NO INTERNET/MOBILE USAGE WITHOUT FOOTBALL ASSOCIATION PREMIER LEAGUE (FAPL) LICENCE. CALL +44 (0) 20 7864 9121 or EMAIL info@football-dataco.com FOR DETAILS  (AP2011)

British media is reporting that Chelsea has agreed to pay about $79.5 million for Liverpool's Fernando Torres, in what could be, the most expensive transfer in British soccer history.

A Liverpool statement says the Spanish striker "has now been given permission to speak to the London club."

Liverpool looks set to replace Torres, who has spent 3½ years at Liverpool after his move from Atletico Madrid, with Newcastle striker Andy Carroll and Ajax forward Luis Suarez on the final day of Europe's January transfer window.

Based on reporting by the Associated Press.

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