Report: Radamel Falcao to join Chelsea

Atletico Madrid striker Radamel Falcao has reportedly agreed personal terms with Chelsea ahead of a January move to the Premier League outfit.

The 26-year-old has a £48m release clause in his contract and according to Goal.com, the European champions are prepared to pay that figure to sanction a move for the Colombian.

Manchester City have also been strongly linked with the striker, but reports have suggested that personal terms have already been agreed with Chelsea.

Falcao has scored 49 goals in 59 games since joining Atletico from Porto in 2011, where he had struck 72 goals during two seasons.

The addition of the striker would put Fernando Torres's future with the Blues in doubt.