The decision was perhaps made as long ago as August 31, when Falcao destroyed Chelsea in the European Super Cup with a first-half hat-trick.
While the transfer window was technically open for an hour or so after the game, signing the star striker was logistically impossible for the Blues so late in the day.
With Fernando Torres failing to fire consistently, it appears Chelsea owner Abramovich's desire to bring in Falcao has strengthened over time, and now he is ready to make his move.
Spanish daily newspaper AS is reporting this evening that Russian billionaire Abramovich is ready to invite Falcao to London for a personal tour.
The report states that if Falcao accepts, he will be shown around the capital, and Chelsea's facilities, to allow him to get to know the city and the club.
It is hoped this would sway his decision, with Manchester City and PSG also lurking in the race to sign one of Europe's most-feared marksman.
AS add that Chelsea are to offer Atletico Madrid 56 million Euros and Falcao a salary of 12.5 million Euros a year.
Falcao has scored 17 goals in 15 La Liga games this season, including five in a demolition of Deportivo earlier this month and a strike against Barcelona at the weekend.
image: © chilangoco