Radamel Falcao
Falcao was poor at Manchester United this seasonReuters

Radamel Falcao is reportedly willing to take a significant pay cut to make a move to Premier League champions Chelsea this summer.

The Colombia international recently returned back to AS Monaco, after Manchester United decided not to exercise the option to sign him permanently, following his disappointing loan spell at Old Trafford this season.

The 29-year-old striker, who was a feared forward in Portugal and Spain, was expected to do well in England as well, when he completed a £6 million loan move (with an option to make it permanent for £43.1 million) last summer.

However, he has proved to be a big flop this season, managing to score only four goals in 26 English Premier League appearances.

Despite United not being interested in keeping the Colombian at Old Trafford for another season, a lot of clubs, including Serie A champions Juventus and Valencia, are reportedly keen on signing him.

However, it is believed that Falcao wants to stay in England, and the Daily Mirror claim that the striker is looking to seal a move to Premier League champions Chelsea.

According to the report, the former Atletico Madrid striker is even willing to take a significant pay-cut from his current £265,000-a-week wages to join the Blues this summer.

With Didier Drogba confirming that he will leaving the club this summer, the Blues are in the hunt for a new striker to back-up Diego Costa and Loic Remy.

But, they may not be willing to take a risk by signing Falcao as he has been very disappointing at Manchester United this summer.

The Blues have already signed their fair share of flop strikers, with the most memorable being Fernando Torres, who managed to score only 20 goals in 110 Premier League appearances during his three-and-a-half seasons at Stamford Bridge, after completing a £50 million move from Liverpool in January 2011.

Still Falcao's agent Jorge Mendes, who is understood to have close ties with the Blues due to him also being the agent of manger Jose Mourinho and a number of players at Stamford Bridge, may be able to persuade Chelsea to give Falcao another chance to prove himself in England.