The Colombia international becomes Chelsea’s first signing of the summer transfer window after weeks of speculation linking the Premier League champions with a move for Falcao.
The 29-year-old managed a disappointing four goals in 29 games during a season-long loan at Manchester United last term after he moved to Old Trafford on deadline day last summer.
Chelsea posted the above photo on their Instagram and the snap was accompanied by the following caption: “Chelsea Football Club is delighted to announce we have agreed terms with Monaco for the season-long loan of Radamel @Falcao… #CFC #Chelsea #Falcao”
Monaco striker Falcao, who was away competing with Colombia in the Copa America in Chile last month, spoke of his excitement to join the reigning English champions.
“I am very happy to be joining Chelsea and can’t wait to start training,” Falcao is quoted as saying by BBC Sport.
Falcao will linked up with his former Atletico Madrid team-mates Thibaut Courtois and Filipe Luis at Stamford Bridge.
The South American memorably scored a hat-trick against Chelsea in a 4-1 victory over the then-Champions League holders in the Uefa Super Cup in Monaco.
Falcao scored 52 times in 68 La Liga games before his move to Monaco in 2013.
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