I am not sure what he is earning right now, heard its a little below 200k, I would harmonise it to whatever Sturridge and Mata are earning, it makes sense for the front runners to be on about the same pay. I feel it will create a balance in the dressing room and on the pitch. In other words, I'd take a little from Torres and add to Mata and Sturridge to level things up. Lets see how they play on equal pay. A superstar pay without a corresponding perforfance on the pitch could actually be hindering Torres re-ignition and might attract undue criticism if not envy from his colleagues. While I am on the job, I'd also review Ramires and Luiz pay upwards and try to pinch something off Cole and Lampard, if they'll let me. I don't know Bos, Mal and Mikel are earning but I will look to slice something off and share it amongs Ivan, Romeu and Eva. I won't touch Terry's pay.
Thoughts...

idiot

If you apply this performance rated pasy to Torres then it's only fair to do the dame for the entire team.

That would cause mass arguments and open up suitcases of worms

I won't delete your comment, if you think I'm an idiot for suggesting a pay cut for Torres then everyone knows who the idiot is,

Apologies for my atrocious spelling earlier - just read that back and i'm ashamed.

I did start work at half 6 though so I'm gonna let myself off this time.