Manchester United and Manchester City are ready to go head-to-head for £40m Fernando Torres. The rivals are looking to capitalise on the crisis at Liverpool and the fact that the Spanish World Cup winner is unlikely to get the Champions League football he craves at Anfield next season. Even if John W Henry's takeover of Liverpool goes ahead this week, their woeful start to the campaign make them rank outsiders for a top four finish. Sir Alex Ferguson and Roberto Mancini are both long-term admirers of the striking superstar. Reds boss Fergie needs to make a world-class signing to quell growing unrest among supporters particularly after latest figures showed United post club record losses of £83.6m for the last financial year. Despite the figures, chief executive David Gill insists the Reds can compete in the transfer market with £165m in the bank for Fergie to use and a move for Torres would be the perfect example of that. Despite Ferguson's massive transfer war chest, he knows he faces an uphill battle to land the Kop star. Liverpool would go to any lengths to stop him from making a switch to their most hated rivals. They would sanction a move to any other club just to ensure United don't get their hands on their star asset. Then there is the fact that billionaire City owner, Sheikh Mansour, has the funds to usurp any bid made by United and would see the signing of Torres as the chance to prove that the Blues are now the undisputed powerbase of world football. The alarming financial results at United have set panic among some supporters, who want to see the Reds who are third in the Premier League behind City and leaders Chelsea after a less than impressive start to the new campaign strengthen the team. Ferguson was linked with major stars David Villa, Karim Benzema and Mesut Ozil over the last 12 months, but none have arrived at Old Trafford. Udinese's Chilean attacking midfielder, Alexis Sanchez, could be one option for Fergie in the short-term, with United monitoring the Chilean's progress. He would be available for around £17m and would be open to a move to Old Trafford, saying: Obviously I'd like to play for a club like that. Would you like to see United go for Torres? Have your say.