Manchester City and Chelsea’s pursuit of Atletico Madrid star Radamel Falcao has suffered a blow with his club declaring that he will be staying put.

The Premier League duo are expected to test the La Liga club’s willingness to hold onto their star man with big money January bids.

However, Atletico chairman Enrique Cerezo believes that Falcao will remain in the Spanish capital, stating that the striker is enjoying life at the club:

“So many rumours about Falcao does not bother me because he has a contract and is happy.” He is quoted by SkySports.

“It is all the same to us and he will fulfil his contract.”

Chelsea are thought to be the most likely destination for the prolific front-man, with club owner Roman Abramovich keen to bring in a guaranteed source of goals. It’s likely that the Blues will offer former Atletico captain Fernando Torres as part of any deal to tempt the Europa League champions.

City could rival any approach and certainly have the financial muscle to match the Spaniards’ £50m valuation.

Falcao started his professional career with Argentine giants River Plate, before moving to Porto in 2009.

He shot to fame with the Portuguese club after averaging better than a goal every other game.

This tempted Atletico Madrid who shelled out an estimated £35m for his signature last year.

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