The Monaco striker has been heavily linked with a move to the Premier League outfit this week as the club look to secure another striker following the injury of Olivier Giroud.
And despite boss Arsene Wenger claiming there is no connection between the two parties, Italian journalist Nicolo Schira claims Arsenal are set to hold talks with Falcao’s agent Jorge Mendes and Monaco to discuss the possible loan transfer.
Real Madrid and Juventus have also been linked with the Ligue 1 star this summer and the player is reportedly available for a season-long loan move for £20m.
Falcao is supposedly keen to find a new club and Monaco are willing to let him go, but no deals for the goalscorer have been agreed as of late.
By Phil Wellbrook