PSG are moving to trump Chelsea and Manchester City for Atletico Madrid star Radamel Falcao. The Daily Star Sunday says loaded PSG have informed their Spanish counterparts they are willing to meet the massive £48million release clause in the Colombian striker's contract as soon as the January window opens.

And that news has set alarm bells ringing in the corridors of the Etihad Stadium, with City boss Roberto Mancini equally desperate to land Falcao.

The Italian flew to Spain last month to watch his No.1 transfer target - and preliminary negotiations between City and Atletico are thought to be under way.

But the Premier League champions seem reluctant to blow such a massive sum on Falcao. They feel that a fee of £35m would be more appropriate.