The Spanish striker, who is yet to score a goal and has looked sluggish in South Africa, has been linked with moves to back to Spain in recent weeks, but José Antonio Martín ruled that possibility out.
"Barcelona have signed David Villa and now they want to invest the money they have in other players," he told The Daily Mail.
However, Martin refused to commit his player to Liverpool.
"It is very likely that Fernando Torres will stay in the Premier League, but I cannot say that it will be with Liverpool.
"We are working on his future but right now you cannot guarantee that he will stay with the English club."
Chelsea have repeatedly been linked with a move for the forward, while Manchester City are the only other realistic rivals for his signature in England.
For his own part, Torres has put questions about his future on hold until after the World Cup.
On the appointment of Roy Hodgson as Liverpool manager, he said: "I was happy he (Hodgson) got the job. I haven't had a chat with him yet but I will talk with him soon and we will see his ideas about the future.
"For now, my future is here. South Africa and the World Cup is too important to think about things after that.
"I have a very important week still here and after that I will have time to talk with him and talk about my future."
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