Colombian goal poacher Radamel Falcao is set to extend his stay in the Premier League after the striker's family confirmed that he has already penned a deal with Chelsea this summer and the formalities have also been completed.
The news was broken by the player's father Radamel Garcia to Colombian television network Caracol TV and the player's uncle, Herbert King, confirmed the same to English daily The Guardian.
According to Garcia, his son has already signed the deal with Chelsea and the striker is on his way to join the Blues on their pre-season tour in Montreal, Canada, on 19 or 20 July.
Falcao's uncle and father both stated that the former Atletico Madrid hitman will be plying trade with Jose Mourinho's side on a season-long loan spell from Monaco.
Chelsea also have the option of making the move permanent next summer.
Although the 2014-15 Premier League Champions are yet to officially announce the signing, talks have been ongoing between Falcao's representative Jorge Mendes, and Monaco for almost three weeks, in an attempt to reach a compromise over the player's £265,000-a-week pay package and loan fee.
However, it is believed that the Colombian, who spent last season on loan at Manchester United, has agreed personal terms over a £180,000-a-week deal with the defending champions, and the loan fee is mooted to be in the region of £4 million.
The 29-year-old was brought in by Louis van Gaal at Old Trafford last summer on loan from Monaco. He didn't really have a season worth remembering as the former Atletico player scored just four goals out of 26 appearances last season.
The dip in Falcao's form started after the serious cruciate ligament injury he suffered in a French Cup tie in January 2014. The injury also ruled him out of last summer's FIFA World Cup.
Falcao was named as Colombia's captain by manager José Pekerman for the Copa América 2015 in an attempt to restore his confidence. But, after failing to make his mark in the opening three games of the campaign, 'El Tigre' was dropped to the bench as Pekerman's side crashed out of the tournament on penalties to Argentina in the quarter-finals.
The two-time UEFA Europa League winner with Porto and Atletico respectively, however came on as a second half substitute in that match and converted one of the spot kicks for Colombia.
Falcao will spend the next few days with his family in Colombia before joining Chelsea on their pre-season tour, where they will play Barcelona, Paris Saint-Germain and New York Red Bulls in the International Champions Cup later this month.