Atletico Madrid striker Radamel Falcao has agreed terms on a €60 million move to newly-promoted Ligue 1 outfit Monaco - according to Spanish TV station La Sexta.

The Colombian has been at the centre of a transfer tussle between some of the biggest clubs in Europe for some time now, and is expected to lave Atletico in the summer.

Chelsea are said to be close to landing 'El Tigre' having reportedly promised Jose Mourinho the striker should he take over at Stamford Bridge next season. Manchester City are also said to be in pursuit of the 27-year-old, as are rivals Manchester United.

However Chelsea and the Citizens may have missed out on their man if La Sexta are to be believed. 

They report that Falcao has agreed terms on a €10 million-per-season deal to join Monaco, who recently sealed their promotion back to Ligue 1 after being relegated two years ago.

Despite that, their place in the top flight of French football is not yet assured. As a principality Monaco are not subjected to the same tax-rate as France, who take up to 75% from their top earners.

The French Football Federation has demanded they lose their tax exemption status in order to take up a place in the league, and also make a €200 million flat payment. Monaco are planning to legally challenge the ruling.

Bankrolled by Russian billionaire Dmitry Rybolovlev, Monaco have been linked with a host of big name signings, and are said to be hoping to lure Manchester City boss Roberto Mancini in the summer as well.

Atletico Madrid are expected to cash in on their leading scorer at the end of the season, but have previously insisted they will not let him leave for anything less than the €55 million release clause written into his contract.

The latest reports linking Falcao with a move to the Premier League suggest Chelsea have cooled their interest in the Colombian international - but such is the lack of clarity over his future that last month the Mirror claimed deals to take both Mourinho and Falcao to Stamford Bridge were done.

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