Premier League Transfer News: Radamel Falcao Deadline Day Rumors

Monaco forward Radamel Falcao is struck in the middle of a transfer deadline day battle between competing Manchester City and Arsenal.

Both teams are rumored to be competing against each other to grant the Colombian striker a transfer entry.

Both Manchester City and Arsenal offered £55 million bids for his participation in their teams, The Guardian reports.

Rumors also suggest Radamel Falcao was attempting to make a move to Real Madrid.

"Jorge Mendes tried all year, in fact the whole summer, to move him to Real Madrid," Guillem Balague told Sky Sports News HQ.

"Real Madrid have been saying all along for the whole summer that they just weren't interested in Falcao."

Premier League transfer news developments continue as deadline day approaches.