Chelsea midfielder Thimoy Bakayoko has been loaned to Monaco, while Turkish side Galatasaray have confirmed negotiations to sign Colombian striker Radamel Falcao from the French club.

The French club, crowned champions of France in 2017, said in a statement yesterday that the French international Bakayoko joined the club on loan from the London club for one season, with the option of final purchase.

"I am very happy to be back in Monaco, the club with whom I have great memories," Bakayoko was quoted as saying.

The 25-year-old spent three seasons with Monaco culminating in winning the 2016-2017 trophy, which was the first of the principality in the French league in 17 years. At the end of the season he moved to Chelsea in a deal worth 45 million euros, including a five-year contract.

Bakayoko spent one season with Chelsea, playing 43 games in various competitions, before loaning him to AC Milan last season, where he defended his colors in 42 games.

On the other hand, Galatasaray, crowned last season as the Turkish champions, revealed that it has started "formal negotiations" to join Falcao.

"Official negotiations have begun with the player and Monaco on the transfer of professional Radamel Falcao," Galatasaray said in a statement.

The 33-year-old striker has a contract with the French club until June 2020 and is reported to have reached an agreement on personal terms to sign a contract with the Turkish club until 2022.

The player has yet to play for his current Ligue 1 club due to an ankle injury.

The French sports daily L'Equipe reported that in the event of Falcao's departure, Monaco plans to sign Frenchman Jean-Kevin Augustin from Leipzig and former Paris Saint-Germain player.

The summer transfer window closes in Europe on Monday.