Reports this week suggest The Blues are willing to cut their losses on the Colombian star in January.
The 29-year-old joined the reigning Premier League champions on a season-long loan from Monaco in August in another failed attempt to kick start his career, mirroring a similar experiment at Manchester United last year.
Once considered one of the best strikers of his generation, Falcao had scored a total of in 187 goals in 283 appearances for River Plate, Porto and Atletico Madrid before joining French Principality outfit AS Monaco in 2013 for a whopping €60m (£51 million) - as reported by the Independent.
But after a bright start for The Red and Whites, Falcao suffered a severe anterior cruciate ligament injury in January 2014, ending his season and his hopes of appearing for Colombia at the World Cup. Many feel he has never been the same since.
With Monaco owner Dmitry Rybolovlev withdrawing the majority of his funding in the summer of 2014, Falcao and his enormous £285,000 a week wages were the first to go.
Manchester United snapped up the striker on loan, taking on 100% of his wages, but balked at a permanent deal after Falcao scored just four times in 29 games.
Why haven’t things worked at Stamford Bridge?
Many believed that under the tutelage of boss Jose Mourinho, Falcao would finally flourish in England. Alongside former Atletico teammate Diego Costa, the pair were hoped to become a fearsome partnership.
Instead, Falcao has made 11 appearances, including one league start, with just one goal to his name. He has not played for Chelsea since a 14-minute cameo against Liverpool on October 31st and reports from The Independent suggest Mourinho is looking to release the Colombian back to Monaco, who equally do not want him.
Mourinho has preferred to start with Diego Costa up front, and in his absence, relied on Loic Remy and Eden Hazard to lead the line.
The Sun had reported that following a bust-up with Costa and without Remy, Mourinho would be forced to play Falcao against Tottenham Hotspur last Sunday. The Portuguese boss instead opted to play attacking midfielder Eden Hazard as his furthest forward man and the game ended 0-0, demonstrating how far Falcao’s stock has fallen in London.
The English game has not suited Falcao, who has lost both speed and agility since his ACL injury in France. Whereas in years prior the burly forward could arrive late into the box to finish off crosses, he has been out muscled and off pace in the Premier League.
It’s worth noting that sides such as River Plate, Porto and Monaco would base their tactics around the abilities of Falcao, the strength of the Premier League means that top clubs like Manchester United and Chelsea are unwilling to do the same, instead focusing on team tactics.
With his colossal wages, Monaco are desperate to offload Falcao to another club this season if Chelsea, as reported, do not want him.
There had been reports in the Mirror of Valencia eyeing up the striker in January, but with the resignation of coach Nuno Espirito Santo on Sunday, and the arrival of Gary Neville on a short-term basis, the move now may be dead in the water.
Chelsea may have to stick with Falcao until May and send him back to France for a fate unknown, but it’s clear to see that his future is not in England.