Radamel Falcao Garcia

European Super Cup winners Atletico Madrid have confirmed Colombian striker Radamel Falcao Garcia will not be leaving the club.

"I do not give any importance. Whilst not tell the person who is the player, nothing happens," Enrique Cerezo, club president, told Spanish newspaper AS, "A parent can bring their children what they see fit because they have lived their childhood and youth, but Falcao has explained clearly, is happy and content with Atletico and is here for four years."

Falcao's contract with the club runs for another four years.

The 26 year old enjoyed a stunning season for the Spanish club last year, scoring 30 goals to earn comparisons with Barcelona's Leo Messi and Real Madrid's Cristiano Ronaldo. His exploits also earned him attention from Premier League clubs like Manchester City and Chelsea, as well as cross-town rivals and Spanish champions Real Madrid.

Falcao has continued where he left off last season, with hat-tricks against Athletic Bilbao and Chelsea, in a Spanish league game and the Super Cup final respectively. Immediately after the game against the Blues, reports emerged suggesting a £48m deal to take the player to Stamford Bridge in January was in place. The player's father, Radamel, was quoted as saying City, Chelsea and an unnamed Russian club were in the hunt for his son. However, soon after that Radamel was also quoted as saying his son had always "dreamt" of playing for Real Madrid and hinted that it was his destiny to do so.

It is not too difficult to see why the striker's father is taking an active interest in promoting his son - a better contract would seem to be the most obvious answer. If the report of a transfer fee between Chelsea and Atletico are true, then the interest of other clubs (City, for example) could be used to negotiate more lucrative personal terms. In fact, Goal.com reports the English champions could have an edge over the Blues because of a better relationship with the Spanish club - City signed Argentine striker Sergio Aguero from Atletico last season, for a sizeable £38m, and have prepared a similar offer to Chelsea for the Colombian.

The Blues have already spent close to £80m on players this summer, with £32m for Belgian Eden Hazard and £25m for Brazil midfielder Oscar. A further £48m may not be out of the question but with Falcao expected to demand a sizeable wage package, Roman Abramovich and his accountants would do well to consider the impact of that demand on the club's financial bottom-line, with UEFA's Financial Fair Play (FFP) regulations coming up.