Italian journalist Nicolo Schira has claimed that Arsenal officials will meet up with representatives of AS Monaco to discuss the potential loan of wantaway striker Radamel Falcao this week.

Falcao is on astronomical wages in Monaco and takes home 100% of his €350,000-a-month salary as he does not have to pay tax, however the Colombian is said to be desperate for a move away from the Russian-owned club.

Arsenal have been long term admirers of Falcao dating back to his FC Porto days, however the recent injury to French forward Olivier Giroud has sparked a frenzy to bring in a world class frontman to match the star studded midfield.

Schira tweeted earlier on today:

@NicoShira “#Arsenal, #Juve and #RealMadrid are very interested in Radamel #Falcao. Tomorrow in Montecarlo they'll meet #Monaco and Jorge #Mendes. #AFC”

The deal proposed would be a season long loan deal that would cost Arsenal £20million – a large fee for a temporary deal – although the 27-year-old is one of the world’s most prolific players.

With 52 goals in 68 La Liga games for Atletico Madrid, Falcao moved on to Monaco for a fee of around €60million, before picking up an injury that would see him miss the World Cup. In his 20 Monaco appearances he has 11 goals, but rumours that he wants out of the Ligue 1 runners-up have been circulating for a long time.

Real Madrid remain favourites for his signature as Monaco are resigned to losing their star striker, however the size of the fee they are asking for just one season may put off potential suitors.

Latest: