Manchester City striker Alvaro Negredo has agreed to join Valencia in a loan move, making room for a possible Radamel Facalo swoop, Daily Mail reports.
Monaco have been looking to offload the striker all summer, and has offered the Colombian to both Arsenal and City ahead of the transfer window deadline.
Falcao was also offered to Manchester United, but manager Louis van Gaal is reluctant to spend more on another attacking player after splashing £59.7million on Real Madrid winger Angel di Maria.
The Premier League champion’s move for the former Porto ace would only occur if Negredo was sold for a decent sum of cash, with a £20million move now mooted to help push the transfer.
The Spaniard has already agreed to join the La Liga side, but no deal has been finalized as of yet.
City are currently under the constraints of Financial Fair Play regulations, making a large money move for Falcao difficult unless they were able to get Negredo off their payroll, as well as freeing up space for another foreign player.
Manager Manuel Pellegrini was evidently frustrated at the Sky Blues’ lack of penetration against Stoke City when they lost 1-0 at the Etihad on Saturday, and hopes the signing of Falcao can add more impetus into his attack.