The Spanish club finally came to an agreement with the Portuguese champions Porto, offering them $57.3 million to activate the release clause in his contract with an additional $10 million in incentive bonuses, reported Atletico’s fan page.
The announcement, which was made at the Portuguese stock exchange, was broadcast in the Atletico stadium to thousands of excited fans during halftime in a Europa League match.
Atletico Madrid, which has been looking for a big signing all summer, found their man in Falcao, who scored a record-setting 17 goals in 14 games while leading Porto to the Europa League finals where he scored the only and match-winning goal.
Intense speculation has been rampant throughout the entire summer offseason with rumors that Falcao would follow his former Porto coach, Andre Villas-Boas, to Chelsea. There were also reports that the forward had agreed to a deal with Real Madrid.
However, Falcao hinted at the transfer Sunday, explaining that “Atletico is a big team, with great supporters and it would be a great opportunity for my career.”
The transfer deal also includes Porto midfielder Ruben Micael for an additional $7.2 million