Report: Chelsea signs Radamel Falcao, will join team's preseason tour

Chelsea are on the brink of giving Radamel Falcao a chance to redeem himself in the Barclays Premier League.

The Colombian international is expected to join Chelsea for their preseason tour of North America after striking a deal with the Premier League champions, members of Falcao's family revealed to The Guardian.

The deal is believed to be a one-year loan agreement with AS Monaco, with an option to make Falcao's move to Stamford Bridge permanent when next summer's transfer window rolls around.

The loan fee with the French club, reportedly worth £4 million, was negotiated following the conclusion of the season, with Falcao agreeing to a deal that will pay him close to £180,000 a week.

An official announcement is expected within the next week.

News of the agreement emerged after Falcao's father, Radamel Garcia, announced the completion of the deal during an interview on Colombian television network Caracol TV.

Garcia announced that Falcao will arrive at Chelsea's preseason base in Montreal, Quebec sometime around July 19 or 20.

The move would be a massive vote of confidence for a player who struggled mightily during his first taste of Premier League football. Manchester United rejected the opportunity to sign Falcao after his miserable year at Old Trafford, where he only managed four goals during 26 league appearances.