Will it be third-time lucky, or does bad luck strike in threes? Jose Mourinho is close to signing Colombia striker Radamel Falcao but there is the possibility he will follow in Fernando Torres' footsteps.

Former Atletico Madrid strikers Diego Costa and Radamel Falcao can star together under the guiding hand of Chelsea manager Jose Mourinho and rekindle a fearsome double-act next season.

Chelsea are closing in on a loan arrangement with Monaco for Radamel Falcao after further talks on Sunday. Mario Pasalic has been offered as a makeweight in the deal to the French side.

Loic Remy will consider his Chelsea future if Radamel Falcao completes his loan move from Monaco. Falcao is expected to join the Barclays Premier League champions on a one-year deal.

Premier League champions Chelsea are close to finalising the signing of Radamel Falcao on a one-season £7million loan deal from Ligue 1 club Monaco.

With the season having concluded, managers are focusing on improving their squads for the August kick-off. Here, Sportsmail gives you all the latest transfer stories from Wednesday, June 17.

Radamel Falcao has given the biggest hint yet that he could be off to Chelsea after giving a journalist a cheeky smile when asked whether details of the proposed move were true.

Following their historic 1-0 victory against Brazil, Radamel Falcao and his Colombia team-mates reported for duty ahead of their Copa America Group C clash with Peru on Sunday.

Follow Sportsmail's live coverage of the 0-0 draw between Colombia and Peru as both sides managed to book a place in the Copa America quarter-finals.

RIK SHARMA: Colombia reached the Copa America quarter finals despite a painful goalless draw with Peru thanks to Brazil's victory over Venezuela.

Puma have released their new lightweight 'evoSPEED SL' football boots, with some of the game's biggest names helping out with the launch, including Sergio Aguero and Marco Reus.

Argentina's Javier Mascherano has publicly backed out of sorts Colombia striker Radamel Falcao but hopes his former River Plate team-mate's form doesn't improve before Friday

Fernando Torres. Sergio Aguero. Diego Forlan. Radamel Falcao. Diego Costa. Mario Mandzukic. And now Jackson Martinez. How do Atletico Madrid do it? 

Radamel Falcao was deemed not worthy of Manchester United, sent back to Monaco with four Barclays Premier League goals and his £43million invoice untouched.

Mario Pasalic, who joined Chelsea last summer, travelled for his medical on Thursday and will sign for the Ligue 1 club on a temporary basis. He spent last season with La Liga outfit Elche.

Chelsea have signed Radamel Falcao on a season-long loan deal from Monaco, with Blues youngster Mario Pasalic moving in the opposite direction as part of the agreement.

Radamel Falcao has agreed to take a 50 per cent wage cut for the chance to prove he is not a Premier League flop. The Colombian’s season-long loan move to Chelsea was ratified on Friday.

Chelsea's new striker Radamel Falcao has officially been confirmed as their new No 9 ahead of the 2015-16 season, following Fernando Torres in wearing the traditional striker's shirt.

Radamel Falcao enjoys a day at the beach with his wife and two young daughters in Miami, Florida as he looks forward to linking up with his new Chelsea team-mates

Jose Mourinho has insisted that Chelsea signing Radamel Falcao is full recovered from the knee ligaments injury he sustained in 2014 and that he can return to his best form at Chelsea.

Radamel Falcao took a huge pay cut to play for Jose Mourinho at Chelsea and is determined to prove his doubters wrong this season. Falcao was thought to be on £265,000 at Manchester United.

ROB DRAPER IN NEW YORK: Gary Cahill has revealed his role in signing Radamel Falcao for Chelsea, after the Colombian tormented both him and John Terry last season at Stamford Bridge.

Radamel Falcao was joined by Chelsea's returning South American contingent on the training pitch on Thursday the day after the Blues suffered defeat in their first pre-season fixture.

ROB DRAPER IN MONTREAL: After Falcao's poor campaign at Manchester United, Chelsea's Costa has said: 'The only thing he needs is to feel loved and trusted, and he will get both here.'

Chelsea captain John Terry is adamant Radamel Falcao can be a success at the club. Terry revealed it only took two minutes of a match playing against Falcao to convince him he was still a 'top player.'

Chelsea manager Jose Mourinho said he could adopt a two-pronged attack this season, with Radamel Falcao offering more options after joining on a season-long loan from Monaco.

GLENN HODDLE: With the new season here at last, Sportsmail's columnist looks ahead to the fates of Radamel Falcao, Bastian Schweinsteiger, Petr Cech and Eddie Howe for the new campaign.

He may be wearing blue these days, and the hair is more coiffured, but Manchester United fans would have had no trouble recognising Radamel Falcao in action for Chelsea on Sunday.

Radamel Falcao believes the goals will flow at Chelsea this season but insists he feels no pressure to find the net. The Colombian scored just four times for Manchester United last season

Radamel Falcao believes the good atmosphere within the Chelsea dressing room has helped him adjust to his new surroundings quickly after joining the champions on loan.

It has been a tumultuous week for Chelsea off the pitch with the row between Jose Mourinho and Eva Caneiro and Jon Fearn but the players seem to be unaffected.

Jose Pekerman has dropped Chelsea striker Radamel Falcao and Juventus midfielder Juan Cuadrado as he looks to breathe new life into Colombia's team for the 2018 World Cup qualifiers.

OLIVER HOLT AT STAMFORD BRIDGE: The internet was awash with advice and mock sympathy for Jose Mourinho on Saturday night after their second defeat of the season.

Radamel Falcao will be given his first Chelsea start in the League Cup at Walsall and the match will be the Colombian striker's latest big chance to show he isn’t a flop.

The 29-year-old, who has scored just one goal in 11 appearances for the Premier League champions, took to Instagram to tell fans he hopes to return to 'normal' very soon.

Chelsea this week confirmed that Antonio Conte will be taking over after Euro 2016 with the club facing a significant summer of upheaval. So, who will Conte keep and who will be sold?

The 30-year-old hitman endured a torrid time at Stamford Bridge and will likely be on the move again this summer, but he seemed to put all of that to one side as he relaxed on holiday.

After flopping in the Premier League and missing out on international selection for the Copa America, it's been a bad couple of months for Radamel Falcao.

The former Chelsea and Manchester United flop started for the principality side and equalised from close range after Emenike had given the Turkish outfit the lead in the third round qualifying tie.

Chants of 'Chelsea reject' were aimed at Radamel Falcao as he left the pitch at Wembley, in reference to his tough loan spell at Stamford Bridge. He replied by holding up his hands to show the score.

The tricky subject of third party ownership (TPO) in world football has reared its ugly head once again after Sam Allardyce was filmed discussing workarounds as part of an investigation.

The Colombian striker, who also scored twice in a 3-0 win against CSKA Moscow in the Champions League in midweek, again demonstrated he was back to his world-class best in Monaco's easy victory.

Falcao endured two torrid injury-blighted seasons on loan at Manchester United and then Chelsea but has struck form with five goals in his last four Monaco matches to return to the Colombia squad.

Teen prodigy Kylian Mbappe showed why he has caught Arsene Wenger's eye with a well-taken goal as Monaco overcame determined Montpellier to stay three points clear in Ligue 1.

The Manchester United and Chelsea flop turned 31 on Friday. To celebrate the Colombian took to Instagram, sharing a picture of his celebrations including the birthday boy himself in a daft hat.

The former Manchester United man has returned to England ahead of Tuesday night's game after failed loan spells with the Old Trafford side and Chelsea over the last two seasons.

Manchester City's attacking exploits grabbed the headlines as Guardiola's side came from a goal down to win 5-3, but their defensive frailties were exposed by free-scoring Monaco.

Willy Caballero will feature in countless DVDs and YouTube highlight clips for years to come after failing victim to Radamel Falcao's sublime chip during the Etihad goal-fest back in February.

The Colombian striker has seen his recent career hampered by injury problems. Monaco boss Leonardo Jardim said Tuesday that he will make a late decision on whether to risk his star man.

The Germans welcome the Ligue 1 leaders to the Westfalenstadion in the Champions League on Tuesday evening before travelling to the principality for the return leg next Wednesday.