Arsenal boss Wenger will compete with Chelsea for Falcao

Arsenal boss Arsene Wenger is ready to compete with Chelsea for Atletico Madrid star Radamel Falcao.

The Sunday Mirror says along with a number of other clubs like Chelsea and Paris St ­Germain, the Arsenal boss is a huge admirer of Falcao, the Atletico Madrid striker.

The prolific Colombia international destroyed Chelsea with a hat-trick in the UEFA Super Cup in August.

His buy-out clause is about £50m – but that could drop because of the country’s financial ­crisis.

If Atletico come down to the £40m, then Wenger could be ­interested.

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