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BREAKING NEWS: Torres signs on for 2017-18 at Atletico

Fernando Torres has signed a one-year contract extension with Atletico Madrid for the forthcoming 2017-18 season.

Former Spain striker Torres is in his second stint with his boyhood club, having re-joined from AC Milan in January 2015 on the back of wildly contrasting spells at Liverpool and Chelsea in the Premier League.

In total the 33-year-old has 105 goals for Atletico, including 28 under current boss Diego Simeone.

Torres largely serves as back-up to the likes of Antoine Griezmann and Kevin Gameiro nowadays but will continue to provide welcome squad depth for Simeone, with Atletico restricted by a transfer ban during the current close season.

"I am very happy to continue one more year together," said Torres in brief statement on Atleti's official website.

Alexandre Lacazette was widely linked with a move to Atletico before the Court of Arbitration for Sport upheld their ban and the France striker became Arsenal's record signing earlier on Wednesday.