Monaco president announces Falcao deal

London: Monaco have confirmed that they have reached a deal to sign Radamel Falcao from Atletico Madrid this summer on a five-year deal.

The Colombian has been in fine form for Diego Simeone`s side, scoring 31 goals in all competitions as the capital club sealed Champions League football and won the Copa del Rey.

He had been widely linked with a move to the Premier League, with Manchester City and Chelsea vying for his signature, but has elected to continue his career in Ligue 1.

"Monaco are happy to announce that they have reached an agreement with Atletico Madrid and the player Radamel Falcao," a club statement read.

"Falcao, 27, has signed for five season. He will be presented to the media and start training with the group at a date to be confirmed by the club."