Madrid, Spain – Atletico Madrid secured the services of Colombian striker Radamel Falcao on Friday from FC Porto in a deal that could reach over $65 million.
Falcao is expected to complete a medical on Friday before signing a five-year contract with Atletico, which sold striker Sergio Aguero to Manchester City in July for a fee reported to be around $60 million.
Atletico is set to pay Porto an initial fee of $57 million, with the price potentially rising to over $65 million depending on unspecified factors.
The 25-year-old Falcao helped Porto win the league, Europa League and Portuguese Cup last season as he tallied 38 goals in all competitions, including 17 in the Europa League, setting a new record for goals in a UEFA club competition in one season.
Falcao had signed a contract extension with Porto last month through the 2015 season, but the transfer fee is a record for a Portuguese club and proved too much for Porto to pass up.