Chelsea are set to launch a £45 million bid for Radamel Falcao in January, according to The Sun.
The Blues have started the 2012-13 season well after a summer of rebuilding, but are slightly light in attack after the departure of Didier Drogba at the tail-end of last season.
The Colombian marksman has shone over the last number of seasons for Porto and Atletico Madrid, and scored a hat-trick for the Spanish side again the Blues in the European Super Cup earlier this term.
It is believed that Chelsea owner Roman Abramovich has made the South American hitman his number one transfer target for the new year, and has already started preliminary negotiations with Diego Simeone’s men over the potential deal in January.
Atletico paid £32 million for Falcao last summer, but are in financial difficulty and have yet to pay off the fee owed to Porto.
By Gareth McKnight