The Mail on Sunday says 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.

But City also know they would have to be able to offer Champions League football to have any chance of signing Torres and Mark Hughes‘ team will regard yesterday’s 1-1 draw with Hull at Eastlands as an opportunity lost as they bid to deny Liverpool a top-four finish.

A source said: “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.”