The Colombian international is regarded by many as the best striker in the world right now and he has scored ten goals already in La Liga this campaign.
This form has attracted the attention of a number of teams, including Chelsea – who seem desperate to secure Falcao’s services in either the January or summer transfer window.
It is thought that the Blues are readying a huge £38 million bid for the forward, which they believe will be too good for Atletico to turn down.
The European Champions have Fernando Torres leading the line at the moment and he is not firing on all cylinders right now, which is why they want to try and land Falcao.
Although he has a deal with the Spanish side until 2016, they are still prepared to extend this contract and significantly increase his wages to fight off any interest from other teams.
At the moment, the ball is certainly in Atletico’s court, but they will have a job on their hands to keep their most prized asset in the New Year.