Liverpool have rejected a bid for their Spain striker Fernando Torres [ Images ] from Premier League rivals Chelsea [ Images ], British newspapers reported on Friday.

"Chelsea have made a bid for Fernando which has been turned down," a Liverpool spokesman was quoted as saying in The Times. "The player is not for sale."

The reports said Chelsea, who have slipped to the fringes of the title race after a poor run, had offered a British record fee of up to £40 million ($63.62 million) for Torres.

Torres, who won the World Cup with Spain last year, joined Liverpool for a club record fee of about £20 million in July 2007 from Atletico Madrid where he was idolised.

The 26-year-old has struggled to find top form this season, scoring nine league goals in 22 appearances as Liverpool have laboured after a poor start under former manager Roy Hodgson [ Images ].

However, Torres has looked sharper since Kenny Dalglish took over the managerial reins at Anfield and has helped them up to seventh in the standings after back-to-back wins.