Falcao signs for Monaco
Monaco have confirmed the deal to bring striker Radamel Falcao to the club from Atletico Madrid.
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The champions of France's Ligue 2 are planning an assault on Paris St Germain's top-flight title next season and see Falcao, rated among the most lethal forwards in world football, as having a key role.
There was no mention of the fee involved in Monaco's statement confirming the transfer, but it was certain to be astronomical, reflecting the interest in Falcao from many of Europe's biggest and wealthiest clubs.
Monaco said on their official website: "Monaco are happy to announce we have reached an agreement with Atletico Madrid and the player Radamel Falcao for the transfer to Monaco beginning with the season 2013-14.
"The Colombian international striker has signed for five years."
Monaco said he would be presented to the media when the club's players return for pre-season training.
Falcao wrote on Twitter: "I want to share with you that I will be player of @ASMFC_MONACO next season. I'm eager to start this challenge! I count on you [sic] support!''
Monaco's summer spending spree is well under way, with the principality club having signed Porto pair Joao Moutinho and James Rodriguez for a combined fee of 70 million euros (£60million) and also Portuguese defender Ricardo Carvalho from Real Madrid.
Their ambitious rebuilding is being funded by billionaire Russian businessman Dmitry Rybolovlev, who bought a majority share in the club that has produced seven French league-title winning teams.
Rybolovlev said: "We are very happy that Radamel Falcao has chosen the challenge of AS Monaco for the future.
"It's something to be proud of for us to be able to count on on of the best players in the world in order to allow ASMFC to get back to where we belong.''
Falcao has scored 16 goals in 44 appearances for Colombia, and after spells with River Plate and Porto he joined Atletico Madrid in summer 2011.
He proved his prowess in the Primera Division and also had success in European competitions with Atletico. He won the Europa League with the Spanish capital club in 2012, having triumphed in the same competition with Porto 12 months earlier.
He scored the only goal of the 2011 final as Porto beat Braga, and netted twice in Atletico's 3-0 victory over Athletic Bilbao in 2012.
Falcao has already scored a fine hat-trick at Monaco's Stade Louis II home, as Atletico beat Chelsea 4-1 in the UEFA Super Cup last August.