Monaco have begun negotiations to secure the transfer of Radamel Falcao and Victor Valdes, according to reports in the Spanish media.
Falcao, 27, is believed to have travelled to the Principality on Monday for a medical and Spanish newspaper AS is reporting the Atletico Madrid striker and his agent Jorge Mendes will meet with Monaco owner Dmitry Rybolovlev on Tuesday to discuss the terms of his deal.
Monaco are set to provide Falcao with a mammoth salary, while forking out the €60 million buy-out clause in his Atletico contract, adding to the recent signings of Porto duo James Rodriguez and Joao Moutinho.
Le Parisien have reported that the club are prepared to offer the player a €10 million annual salary after tax on a five-year deal.
Sources suggest Falcao will finalise personal terms with Monaco before confirming his departure to Atletico.
Meanwhile, French news agency Agence France Press has reported Barcelona goalkeeper Victor Valdes will also be in Monaco on Tuesday as the Ligue 2 champions consider a move for the 31-year-old.
The Spain international has made no secret of his desire to leave the Blaugrana, despite having 12 months remaining on his current contract, and Monaco are now favourites to prise him away from La Liga.