Chelsea loanee Radamel Falcao set for talks on Atletico return - sources
Chelsea are in talks about ending Radamel Falcao's loan so that he can re-join former club Atletico Madrid, sources have told ESPN FC.
Reports have also claimed that Valencia are interested in signing Falcao.
Chelsea are willing to cut short Falcao's season-long loan spell at Stamford Bridge as the Colombian has struggled for form and fitness, sources said.
Chelsea have given Falcao permission to travel to Madrid to try to secure his move back to the Vicente Calderon, sources said, with all three clubs in talks to resolve the deal before the transfer window closes.
Falcao enjoyed a successful two-year spell at Atletico from 2011, scoring 70 goals in 91 games, which earned him the big-money move to Monaco in the summer of 2013.
However, Valencia are said to have registered their interest and it has been suggested that he could instead join Gary Neville's club.
Falcao has not featured since the end of October with a thigh problem and he does not figure in Chelsea's plans going forward under interim boss Guus Hiddink.
The 29-year-old scored just one goal for Chelsea and the recent arrival of Alexandre Pato has pushed him further down the pecking order at Stamford Bridge.
Falcao has struggled for fitness during his time at Chelsea but last week calmed fears over his latest injury.
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Meanwhile, former Chelsea forward Fernando Torres has said he remains hopeful he will prolong his stay at Atletico beyond the summer.
Torres, who is on an 18-month loan deal from AC Milan, is due to leave his boyhood club in the summer and Diego Simeone has been evasive about his interest in retaining the striker.