Liverpool have moved closer to easing the frustrations of a difficult summer by agreeing a new contract with Mohamed Sissoko and making further headway in their pursuit of Fernando Torres, for whom a club-record deal may hinge on them finding the £27 million that would trigger a get-out clause in his contract with Atlético Madrid.

Atlético have informed Liverpool that a deal for the 23-year-old Spain forward is possible, but that, partly for political reasons, accepting an offer of less than £27 million is not an option. That is a daunting prospect for Liverpool, whose record outlay is the £14 million they spent on Djibril Cissé, and for their new owners, George Gillett Jr and Tom Hicks, but a deal is now expected, particularly if Atlético agree to accept deferred payments on half of the fee.

Luis GarcÍa, the Spain forward, is expected to move in the opposite direction, possibly in a separate deal worth £4 million, and Liverpool are also confident of raising funds by selling Cissé to Marseilles. Negotiations with the French club could be finalised over the weekend if Marseilles increase their offer beyond £6 million.

Liverpool have also concluded a £270,000 deal to sign Mikel San José, an 18-year-old defender, from Athletic Bilbao, but a more significant accord was reached with Sissoko, whose wages will rise under the terms of a four-year contract.

Some thought had been devoted to selling the Mali midfield player, given the imminent signing of Lucas Leiva from Grémio, of Brazil, and the impact made by Javier Mascherano since his arrival in January, but all three players will compete for places next season against Steven Gerrard and Xabi Alonso, who have signed new contracts this summer.

Another deal struck in Spain yesterday will result in Chris Coleman becoming the coach of Real Sociedad, subject to the club’s new board being ratified tomorrow. The former Fulham manager has accepted a three-year contract at the Basque club, where he is likely to be accompanied by Steve Kean, his former assistant.

Coleman will work alongside Salva Iriarte, who was appointed sporting director. Iriarte has been assistant to John Toshack, the Wales manager, for three years and may combine club and international duties. Toshack will become an adviser to Sociedad.