However, the 28-year-old appears to have opted to make the surprise move to the Principality club, who are bankrolled by Russian businessman Dmitry Rybolovlev.
They secured promotion back to the top flight from Ligue 2 on Saturday and are determined to become a force in French football again having been relegated in 2011.
Falcao’s €9.7m-a-year (Dh48m) contract is said to contain a one-year escape clause which will enable him to join long-time admirers Real Madrid next summer.
Atletico refuse to entertain the idea of selling Falcao directly to their city rivals, although it is believed the striker could make the move to the Bernabeu after a brief 12-month stay with Monaco.
Monaco are said to be keen to announce the signing this week but Atletico want to wait until after Friday’s Copa del Rey final.
Atletico boss Diego Simeone ducked out of the post-match press conference after a 2-1 defeat to Barca before he could be quizzed over Falcao’s future. The Argentine did, however, outline his disappointment with his team’s second half performance.
“Until our goal, we played well and worked well together. But after that we missed a few chances and they took theirs,” he said.
With the game against Real Madrid looming into view, Simeone is doing his best to keep his players on an even keel and insists he won’t make any special preparations for the final, which provides an opportunity for the Rojiblancos to win their first major domestic honour since 1996.
“We won’t do anything really different this week,” he said. “Games like this one bring their own motivation.”
READ MORE:
– Monaco join race to sign Atletico talisman Falcao
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