With the January transfer window now open for business we’ll be keeping you up-to-date with all the latest transfer gossip. Today, have Chelsea missed out on Falcao?

Chelsea will turn their attention to Edinson Cavani in the summer with top-target Radamel Falcao understood to be on his way to Real Madrid, according the Mirror.

The report claims Blues owner Roman Abramovich is willing to trigger Falcao’s £48m buy-out clause in the summer after accepting the striker will remain with Atletico Madrid until the end of the season.

However, the Mirror suggest that the European champions hopes of landing the Colombian have been dealt a huge blow after Atletico president Enrique Cerezo revealed the 26-year-old has already agreed to join La Liga giants Real Madrid. When asked about the future of Falcao, the Atletico supremo said:

“Falcao has had something signed with Real Madrid for some time.”

Cerezo is quoted as saying by the Mirror.

The newspaper claims that if indeed Falcao does move to the Bernabeu in the summer, Chelsea will then make a £35m move for Napoli forward Edinson Cavani.

Read more Chelsea transfer news

A move for Cavani would make sense should the Blues miss out on Falcao. If Abramovich want’s to sign a superstar striker in the summer, there aren’t many better out there than the Uruguayan.

At 25-years-old he’s at the perfect age and should be coming into his prime playing years, and his strike-rate at Napoli has been superb – 88 goals in 117 games. It might not be quite as good as Falcao’s at Madrid – 56 goals in 66 games – but it’s impressive none-the-less and I think he could be devastating in the Premier League.

Would Chelsea fans settle for Cavani if they can’t get Falcao? Get involved in the comments section below.

Best of the web