Atletico Madrid striker Fernando Torres has reportedly turned down a lucrative move to Mexican side Queretaro in order to stay in the Spanish capital for another year.

The 33-year-old's current deal expires this month and he had been linked with a move away after reportedly seeking assurances over his future.

Queretaro - who signed Brazilian legend Ronaldinho in 2014 - are understood to have tabled a two-year deal for the Spain international, but AS reports that he is now on the brink of signing a new contract at Atletico.

Diego Simeone's side are unable to sign any players this summer due to a FIFA-imposed transfer ban, so instead they have been trying to tie their existing players down to new deals, with both Koke and Antoine Griezmann having already agreed to extend their stays at the club.

Torres is expected to be the next to put pen to paper on a one-year deal which will keep him at his boyhood club as they make the move to their new Wanda Metropolitano stadium.

The news comes as a blow to Besiktas, Cruz Azul and Guizhou Hengfeng Zhicheng, all of whom had also been linked with a move for the former Liverpool and Chelsea striker.