The Mail on Sunday have produced a staggering piece of transfer gossip this morning, with the claim that Manchester City are preparing a 50 million pound bid for Liverpool striker Fernando Torres .

Bob Cass writes: "The billionaire owners of Manchester City are to rock ailing Liverpool by launching an audacious £50million bid for star striker Fernando Torres . City aim to use their financial muscle to force Liverpool to sell their prize asset and believe that if the troubled Merseyside club fail to qualify for next season's Champions League, they will find it hard to refuse a big offer."

Cass quotes a “source” who claims: "Make no mistake about it, this club is ambitious. They believe there is not a player in the world who is outside their budget and that includes Torres. The owners are in it for the long haul. Initially, their number one target is the Champions League next season. But they see that only as the launching pad for greater things. They are now probably the wealthiest club on the globe - now they want to be the best."

Much will of course depend on whether either Manchester City or Liverpool qualify for the Champions League at the end of this season. Rafa Benitez said earlier this month that he would quit Anfield if Torres was sold.

Despite a troublesome groin injury, Torres, who is contracted to Liverpool until the end of the 2012/2013 season, has scored 10 goals in 13 matches so far this campaign.