Liverpool Transfer Rumours: Reds Planning Summer Moves for South American Duo

Liverpool are reportedly in talks with AS Monaco to sign striker Radamel Falcao on loan this summer despite the Colombian proving to be a flop at Manchester United this season.

Almost everyone had expected Falcao to be on the top of the goal scoring charts in the Premier League this season the minute he completed a sensational £6 loan-move to Old Trafford last summer.

However, the striker, who was a terror for defences during his time at Porto and Atletico Madrid, proved to be a bitter disappointment, managing a meagre four goals from 23 appearances in all competitions this season.

United have the option to sign the 29-year-old permanently for £43.5 million, but they are unlikely to take up this option due to his form in front of goal this season.

Despite his poor performances this season, a number of clubs, including Juventus, Inter Milan and AC Milan are believed to be interested in signing the Colombian.

However, the former Porto striker is believed to be interested in staying in England and Liverpool are willing to give him another opportunity to prove his worth in the Premier League, according to the Metro.

Reds boss Brendan Rodgers recently admitted that his side would be finding it hard to attract new talent to his club this summer if they fail to qualify for next season's Champions League.

And as Liverpool's chances of making a top four finish in the Premier League are pretty slim, Rodgers seems to be keen on exemplifying the old proverb, "beggars cannot be choosers".

However, Falcao will probably have to take a pay cut as Liverpool will certainly not be willing to pay his current wages believes to be in the region of £250,000 a week.

Meanwhile, Liverpool are also looking to hijack Chelsea's move for Shakhtar Donetsk star Douglas Costa.

The 24-year-old was a target of Chelsea in the January transfer window, but the move failed to materialize and the Blues ended up signing Fiorentina's Juan Cuadrado instead.

The Blues are reportedly looking to make a fresh £20million bid for the Brazilian in the summer, but Liverpool are reportedly looking to beat the Blues to his signature, according to the Metro.

Although Costa, who has made 133 times for Shakhtar, has expressed his desire to work under Chelsea boss Jose Mourinho, Liverpool are confident that they can tempt the midfielder with the promise of regular first team football.