Radamel Falcao's family have informed The Guardian that the striker has signed a deal with Chelsea and is set to join them on their pre-season tour of North America.
The Colombia international is currently enjoying a break with his relatives but is believed to have used his time off to agree a one-year loan deal with the Blues.
AS Monaco were keen to get rid of Falcao on a permanent basis, but after Manchester United turned down the chance to make their own loan deal permanent for £43.2m another loan looked likely.
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Chelsea will pay a £4m fee to the Ligue 1 outfit and will pay Falcao £180,000-a-week, bringing him within touching distance of the club's highest earner, Eden Hazard.
While that figure may seem excessive, it is significantly less than the £265,000 that Manchester United agreed to pay him on a weekly basis for his services last season.
That money showed very little return with Falcao contributing just four goals in 29 appearances at Old Trafford before returning to Monaco.
A big risk
His poor form for the Red Devils has also left many questioning Jose Mourinho's decision to give him another chance.
However, Mourinho has already stated that he believes that he can get the best out of Falcao and reuniting with former Atletico Madrid team-mate Diego Costa is bound to help him settle.
Joining his team-mates
Costa is almost certain to be the first-choice in a one-striker system for next season, but Falcao will be given a chance to prove himself when he joins his new team-mates in Canada.
The 29-year-old has been granted extra time off by Chelsea following his exploits in the South American cup competition, but is likely to arrive at the pre-season camp in Montreal on July 19.
Chelsea are playing Barcelona, Paris Saint-Germain and New York Red Bulls in the International Champions Cup as part of their pre-season preparations and Falcao is expected to take part.
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