One day after Madrid fired coach Fabio Capello, Torres said that "the door was open" for Getafe's German coach to join the Spanish champions.
The two clubs only needed to reach an agreement to let Schuster move to the Santiago Bernabeu, Torres said. Schuster is under contract with Getafe for next season.
Schuster would be Madrid's eighth coach in four years after it fired Capello less than two weeks after the Italian led Madrid to its first championship in four seasons, ending the club's longest major silverware drought in 53 years.
The decision came as Capello, who had two years remaining on his contract, was on holiday abroad. It is the second time he was fired by Madrid immediately after winning the league title - he suffered the same fate in 1997.
Club president Ramon Calderon said earlier this week Madrid was considering offering the job to Arsene Wenger, Ronald Koeman or Michael Laudrup.
Schuster, a former star for Madrid, FC Barcelona and Atletico Madrid, was linked with a move to the Bernabeu throughout the latter half of the season.
Torres said that Landrup and former Panathinaikos and Zaragoza coach Victor Munoz were possible candidates to take over at Getafe.
Capello's season was overshadowed by problems, particularly his unpopular decision to bench David Beckham after the England midfielder signed a contract with the Los Angeles Galaxy.