With Alvaro Negredo set to miss the opening months of the new season through injury, Manuel Pellegrini is rumoured to be considering a fresh face to bolster his attack amid fears that he may be too reliant on Sergio Aguero – who missed large chunks of 2013/14 through injury.
Falcao is seen as the sort of player needed to help City defend their Premier League crown, but with Financial Fair Play beginning to hit the Sky Blues, a £50m-£60m purchase may be difficult this summer.
As a result the club are looking at a loan move, which they hope will be enough with the Colombian said to be unsettled on the Mediterranean coast.
The 28-year-old only joined Monaco last year in a big money deal, but he has failed to settle at the Stade Louis II.
With his long-term fitness the subject of doubt after a serious knee injury, the Ligue 1 heavyweights could be tempted to offload and may look for a guaranteed fee at the end of any temporary switch or a hefty sum to loan the player.
Should the deal go through, Juventus may look to up their efforts to land City’s Stevan Jovetic.