AS Monaco have confirmed the signing of Radamel Falcao from Atletico Madrid.

The highly-rated Colombian, who has been linked with both Chelsea and Manchester City, moves for a fee that is yet to be disclosed, but is believed to be in the region of between €50 and €60million.

"I would like to officially announce that Falcao has signed his contract," said Russian owner Dmitry Rybolovlev at a party to celebrate the club’s promotion to Ligue 1.

The club went on to confirm that the player has penned a five-year deal in the principality.

"We are absolutely delighted that Radamel Falco has accepted the challenge of coming to play for AS Monaco FC,” they added in an official statement.

"We are proud to have secured one of the best players in the world and confident that he will help ASMFC regain its rightful status. The Colombian international striker has signed for five years."

Falcao then Tweeted on the deal: "I'm eager to start this challenge! I count on your support!"

Atletico Madrid also voiced their thanks to the player, who leaves the Spanish capital after two-years with the club.

"From Atletico Madrid we wish him luck in his new home and thank him for the great demonstration of professionalism that he has shown in the two seasons he played for our club," said the club in a statement.

Falcao is set to earn a salary in the region of €14million, and will be rewarded in France for his phenomenal form in Spain.

The striker has scored 52 La Liga goals in the past 24 months, with 28 of those coming last term. He also scored in the 2-1 Copa del Rey final victory over Real Madrid last month.

Falcao isn’t the first big-name signing of the summer for Monaco, who have also brought James Rodriguez and Joao Moutinho to the club for a combined €70million.

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