“Chelsea Football Club is delighted to announce we have agreed terms with Monaco for the season-long loan of Radamel Falcao,” read a statement on Chelsea’s official website.
The Colombian captain spent last season on loan at Manchester United, managing just four goals in 26 appearances for the Red Devils.
Falcao seems to have been brought in as a back-up for regular forward Diego Costa following the departure of veteran Didier Drogba, with Loic Remy another forward at Chelsea’s disposal.
The 29-year-old, who has previously turned out for River plate, Porto and Atletico Madrid, has scored 195 goals in 322 appearances across all competitions for his various clubs.
Falcao joins former Atletico team-mates Thibaut Courtois, Filipe Luis and Diego Costa, as well as international colleague Juan Cuadrado at Stamford Bridge.