FERNANDO TORRES will have an option for a third year in his contract, he will earn €4m + bonuses; medical check-ups set for Saturday.
Torres will land at the Linate airport at 12:00 CET today. He will then travel to the La Madonnina clinic to have the first part of the medicals, before going to Milanello for the second part. He will off course not be called-up for the Lazio match but could debut against either Parma or Juventus.
Milan had been looking for a striker to replace Mario Balotelli and negotiations for Torres were not easy. However, things were resolved and the Spaniard will (most likely) wear the #9 red and black jersey for the next two to three seasons. El Nino joins the Rossoneri on a two-year loan deal but it’s basically a permanent transfer and according to the Italian press (highlighted by La Gazzetta dello Sport today), Milan won’t pay Chelsea anything for taking Torres from them.
Torres’ contract at Chelsea expires in 2016 but they agreed with Milan to call it a ‘two-year loan’ so Chelsea won’t have to record a capital loss, allowing them to write off the cost of the operation that brought Torres to them in January 2011 for €58.5 million. So it’s officially a loan just for tax purposes. Torres, who gave up on his request for severance package (Chelsea refused to pay him), has a deal worth around €7 mil net per season at Chelsea but he’ll be earning less at Milan.
The 30-year-old wanted the same salary he gets at Chelsea from Milan but it’s been agreed that Torres will receive €4 million net per season with bonuses related to Champions League qualifications and goals scored. The former Liverpool man has already been paid by Chelsea for July and August (~ €1.5m) and so if Torres gets the bonuses, he’ll basically be paid the entire salary (€7m) for the 2014/15 season with money entering to his pockets from both Chelsea and Milan.
It’s also been agreed that Torres’ agents will meet Milan in January 2016 to discuss a third year – he will become a free agent in June 2016 and the Diavolo will have an option to sign him for another season. Torres to Milan, the official is close.