Manchester City agree record transfer fee for Radamel Falcao?

Manchester City have reportedly agreed a British record £54m transfer fee with Atletico Madrid for Radamel Falcao.

The Colombian striker is the club's top scorer and was instrumental in their Copa del Rey final win over Real Madrid on Friday.

He has been linked with AS Monaco recently, as well as Chelsea, but according to the Mirror, City have matched his buyout clause and Falcao will become the first signing under Manuel Pellegrini.

It is thought that the chance to work with Pellegrini, who is expected to be named City's new boss within a couple of weeks, will sway Falcao towards Manchester, rather than Chelsea.

The fee of £54m would break the current transfer fee record of £50m, which Chelsea paid Liverpool for Fernando Torres.

The signing could also see Carlos Tevez leave the Etihad Stadium, with French sides Paris Saint-Germain and Monaco interested.