Manchester City are getting ready to shell out a British record £54 million for Atletico Madrid striker Radamel Falcao, reports the Sunday Mirror. The Colombian striker was widely expected to be heading to west London this summer but Manchester City have swooped in on the forward and are ready to meet his buyout clause.

Falcao’s agent, Jorge Mendes, also manages Jose Mourinho and the striker was reportedly keen to play under the Portuguese at Chelsea. However the forward wasn’t willing to fight with Fernando Torres, who’s the London club owner’s favourite, for a first team spot. So he has decided to join the Premier League 2011-12 champions instead where he will form a deadly striking partnership with a third former Atletico striker Sergio Aguero, who Falcao replaced in the Madrid club two seasons ago.

Atletico Madrid star Radamel Falcao has chosen to distance himself from rumours surrounding his alleged decision to move to French club AS Monaco, this summer.

Dismissing all speculation regarding a potential move to Monaco, Falcao said: "I don't know anything, and the only thing that I have in my mind and keep concentrating on is Atletico de Madrid. I don't know anything. I keep myself apart from what is being said. If it was for the press, I have already been transferred to all the teams in Europe like Chelsea, Real Madrid and Manchester United. I don't find true any news that is being said about me. Last year the same happened.

South American super striker Radamel Falcao, who has been in demand all over Europe with a host of clubs interested in signing him, has a new suitor in the soon to be promoted Ligue 2 side, AS Monaco.

The French side, which is at the top of the second tier of the French League, have been reported by the Metro to be the new frontrunners to sign the star Colombian striker from Atletico Madrid. They have reportedly matched his buyout clause of £50.7m and are willing to pay him a post tax salary of £8.5m. In what could be a speedy conclusion to a long running transfer saga, an official announcement is expected to be made this very week!

Colombian striker Radamel Falcao has dropped out of the list of transfer targets at Real Madrid, paving the way for Premier League giants Chelsea to have a unhindered run at the 27 year old hitman. According to a Spanish radio station, negotiations between Falcao's agent and Real fell to the wayside after the two sides found too much disparity in their wage discussions.

Chelsea were always the frontrunners to sign the prolific frontman with whispers going around of a secret meeting resulting in a deal. This comes despite his countryman and Newcastle hero Faustino Asprilla urging him to join the Premier league champions Manchester United owing to the fact that they are more stable on the managerial front. However, with 71 year old Manager Sir Alex Ferguson announcing his retirement today, it remains to be seen how this affects his decision.

The striker merry-go-round in the post-season promises to be an eventful one if the rumours are to be believed and central to the whole plot is one Radamel Falcao. The Colombian hitman is being actively chased by Manchester City and Chelsea in the Premier League and the future destination of the Atletico Madrid striker will decide plenty of other transfers.

Chelsea are likely to offload Fernando Torres in the summer and the Spaniard received a call for redemption from Atletico’s manager Diego Simeone over the weekend as the Argentine said this about Torres to the Daily Mail: “Right now Fernando's playing for another team and we will have to wait until the end of the season, and we have to decide which players could come here.” Torres has been given plenty of opportunities to regain his old touch but he has failed to grasp them and the end is nigh for Britain's most expensive buy.

Atletico Madrid are keen on in-form stopper Thibaut Courtois, who has been on loan with the La Liga side for the last two seasons, and Chelsea are willing to part with the young Belgian, although they expect at least £17 million for a transfer.

Chelsea bought the 20 year-old from Racing Genk in 2011 and with Petr Cech and Ross Turnbull already on the squad, they opted to send him on loan. Courtois thrived in his first season at Atletico, claiming the Europa League title and helping them with Champions League qualification in this campaign. Atletico manager Diego Simeone is understood to want the talented youngster on a permanent basis following his brilliant performances, reported the Daily Star.

Reasonable isn’t a word often used when Roman Abramovich is the subject of discussion, as countless managers with impeccable credentials can attest to. But the Chelsea owner has been exactly that with regards to his biggest single investment- Fernando Torres. Ever since he gave the green light to bring Torres from Liverpool for £50m in 2011, the Russian has stood by the beleaguered Spaniard despite the wide-spread criticism and mockery of the one time great striker.

But the Express reckon that Abramovich’s patience with Torres has finally reached breaking point and the 28 year old looks set to be offloaded in the summer for a meager £15m as the Blues try to cut their losses after accepting defeat.