Chelsea have been repeatedly linked to the Colombian striker, although speculation of late has focused on a potential move to Atletico’s rivals Real Madrid. Earlier this week, Falcao vehemently denied claims that he had already met with Real Madrid president Florentino Perez.
It is believed that Chelsea would have liked to bring Falcao in during January’s transfer window, but are now prepared to wait until the end of the season. Atletico are currently having their best season in years and lie second in La Liga, eight points behind Barcelona.
Falcao has claimed that he is happy at the club he joined from Porto in the summer of 2011.
“I’m really at home with Atletico and I’m still under contract here,” he told FIFA.com. “I’m sure that I’ll taste life in another league at some point in my career, but right now I’m only thinking about my club, in growing as a player and doing my bit to help us keep winning trophies.”
Having already brought in Demba Ba to provide an alternative for the misfiring Fernando Torres this month, it is unlikely that Chelsea will be recruiting another striker in the remainder of the transfer window.
That would appear to rule out a move for Vitesse Arnhem front man Wilfried Bony, who has previously been linked with the Blues. The Ivory Coast international has scored 16 goals in just 18 appearances in the Dutch Eredivisie this season to lead to reported interest from several clubs, also including Liverpool.
Vitesse have said that they have agreed to let Bony leave should a suitable offer come in for his services.
"We have promised Wilfried that we will consider any serious offers from him that would take him a step higher," he said, according to TalkSport. "But it must be good for both parties.
"Currently we have received no bids, and frankly we would rather Wilfried stays.”
Far likelier, is that Chelsea have turned their attentions to trying to recruit a central midfielder. Chelsea currently find themselves short in that department with Oriol Romeu ruled out until the end of the season and John Mikel Obi at the African Cup of Nations with Nigeria. It also appears all-but certain that Frank Lampard will be leaving the club in the summer.
The midfielder most prominently linked with Chelsea has been Corinthians star Paulinho. An all-round midfielder, who like Lampard has a knack of popping up in the penalty area at the right time to get on the score sheet, is thought to also be interesting Manchester City and Liverpool.
The Brazil international, who played against Chelsea in the final of the Club World Cup, has consistently said that he is happy to remain with his club, however. And with Corinthians now putting a £15 million valuation on his head, according to TalkSport, it doesn't appear that the 24-year-old will be moving on in this transfer window.