Chelsea are believed to be close to securing the services of Colombian striker Radamel Falcao on loan from Monaco.

mirror.co.uk is reporting the 29-year-old is willing to significantly decrease his £265,000-a-week wages in order to join the Blues.

It is understood Falcao could join his new teammates as early as July 19, when Chelsea are set to commence a pre-season training camp in Montreal, Canada.

Falcao spent last season on loan at Chelsea's English Premier League rivals Manchester United.