Arsenal need to sell to raise funds for that Aouar swoop and are looking for a permanent deal for Torreira, rather than a loan.
And Italian journalist Fabrizio Romano has provided an update on the situation.
The agent of Lucas Torreira is now in Madrid to meet with Atletico,” Romano tweeted. “Negotiations on between Atleti and Arsenal to complete the agreement.
“#AFC are still asking for a permanent deal – Atleti are gonna make a new bid. Talks on.”