Falcao pens Porto extension

Colombian striker Radamel Falcao has ended speculation surrounding his future by signing a new contract with Portuguese champions FC Porto.

Falcao put pen to paper on a new four-year deal that will keep him at the Estadio do Dragao until 2015, the club announced on Thursday.

The new contract sees Falcao’s release clause upped to 45 million Euros, which is likely to force potential suitors to think twice before moving to sign him.

Chelsea have been strongly linked with a move for the 25-year-old after appointing new manager Andre Villas-Boas, who guided Porto to an impressive treble last season.

Atletico Madrid had also been mooted as an interested party, after learning that Sergio Aguero wants to quit the club in the close season.

Falcao, who topped the Europa League scoring charts with 17 goals last season – a new record in the competition – is currently on international duty with Colombia, who face Peru in the Copa America quarter-finals.