Real Madrid are reportedly prepared to contest Chelsea in their pursuit of Atletico Madrid striker Radamel Falcao, and are confident they can lure the Colombian into a controversial cross-city switch.

According to talkSPORT, Real Madrid are hoping to beat Chelsea to the signing of Falcao with a £45 million bid for the 26-year-old, who continues to astound with his goalscoring exploits.

Falcao scored an incredible five times for Atletico in the 6-0 weekend defeat of Deportivo La Coruna, and now has more goals in La Liga this season than Real Madrid superstar Cristiano Ronaldo.

Chelsea reportedly remain doubtful that Fernando Torres will recapture the form that prompted his transfer to Stamford Bridge, and Falcao has been identified as a candidate the replace the Spaniard.

However, Chelsea may have their work cut out to capture the much-coveted signature of the Colombia international if Real Madrid also enter the race to sign him.

Real Madrid already boast a host of potent forward options with Cristiano Ronaldo joined by the likes of Gonzalo Higuain and Karim Benzema, but Los Blancos are in need of an extra spark to revive their season.

Jose Mourinho's side are 11 points behind Barcelona in their defence of the Spanish title, while Atletico Madrid are only five points ahead of their city rivals.

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