The Spanish giants are believed to be close to securing a deal to bring the Colombian to the Bernabeu, despite Monaco insisting that their highly-rated striker is not for sale
Real Madrid are in advanced discussions to make Radamel Falcao their latest Galactico, Goal understands.
The Colombia international has expressed his desire to return to Spain following an injury-interrupted season at AS Monaco.
Goal can confirm an outline agreement has been reached, with further discussions over the transfer fee planned.
Though his current contract does not specify a release fee, it was signed last May on the understanding that Falcao would be permitted to leave the club should an attractive offer emerge at the end of his first season there.
Monaco will expect Madrid to match the €60million transfer fee they paid to sign the former Porto striker from Atletico, although, publicly at least, the Ligue 1 club remain adamant they will not be selling their star striker this summer.
“There are no negotiations with any club for Falcao,” said Monaco’s vice-president Vadim Vasilyev on Thursday.
When questioned on whether Falcao had asked to leave, he replied: “We have not talked about that. We count on him and believe he will have a great season in 2014-2015.
“Nobody is not transferable, I don’t know of any examples in football – yet there is no discussion, we rely on him.”