Atletico Madrid prepare Oliver Torres offer

Atletico Madrid are ready to offer a new contract to Oliver Torres in a bid to ward off interest from the Premier League, according to reports.

The 17-year-old has been linked with a move to Manchester United, while Chelsea have also shown an interest.

However, Spanish newspaper Marca understand that Atletico will offer him a lucrative new deal, which will tie him to the club until 2017.

Torres, who plays as an attacking midfielder, was apart of Spain's successful Under-19 European Championship-winning side.