Torreira is surplus to requirements at the Emirates Stadium, with Arsenal ready to let him leave, and the Uruguayan is prepared to sign for Atletico Madrid.
The midfielder is on his way to Madrid to undergo a medical, according to Libertad Digital, and Atletico Madrid have already exchanged documents with Arsenal.
Atletico Madrid will tie everything up in order that Torreira can head for international duty with Uruguay, but if the Spanish giants cannot offload Hector Herrera or another player, they are unlikely to sign the Arsenal man.
The Spanish outfit want to be ready to with Torreira’s capture, but it remains to be seen if they will push it over the line.
The midfielder has also attracted significant interest from Italy, where he starred for Sampdoria.
Torreira though is keen to test himself in La Liga at Atletico Madrid.
He clocked up 29 appearances in the Premier League for Arsenal last season, but has failed to find favour under Mikel Arteta.
