Radamel Falcao is set to end his nightmare loan spell with Chelsea in January by joining Valencia on loan, according to reports.
The Spanish side have made enquiries with Falcao's representatives, the Daily Mirror have reported.
The misfiring Colombian striker is on a season-long loan from Monaco, but the Blues have an option to terminate his loan.
The 19-year-old has failed to hit the ground running at the Stamford Bridge club, scoring one goal in 11 appearances in all competitions.
Falcao joined Chelsea this summer, hoping to show the prolific form which elluded him on loan at Manchester United last season, when he netted just four goals in 24 appearances in all competitions.
Colombia coach Jose Pekerman said earlier this season that he will keep on picking Falcao, hoping that the striker will "rediscover his confidence".
"We all know his capabilities, and I see he still has the will to fight, to reverse the situation, with that spirit of wanting to reach his best performance and we have expectations," Pekerman said.
"We always have the hope that he rediscovers his confidence. He always deserves to be called up."
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