Manchester United transfer news: Radamel Falcao could extend his loan deal from Monaco for another season

The Colombian may have bought himself some time at Old Trafford

Radamel Falcao in action for Manchester United (Getty Images)

Manchester United could offer Radamel Falcao a second chance to impress at Old Trafford by extending his loan spell.

The injury-plagued Colombian's current stay is set to expire on June 1 but, according to The Mirror, he may surprisingly remain at the club for the 2015/16 season.

While United are reluctant to take up their option to sign Falcao permanently for £43.2 million, executive vice-chairman Ed Woodward is in discussions with the striker's parent club Monaco about retaining him on a temporary basis.

An extension would suit the French club, who are keen to keep his £250,000-a-week salary off their wage bill and meet UEFA's Financial Fair Play regulations.

It is believed that Woodward may even push for a reduction in the arranged transfer fee but an extension to the loan seems the most likely option.

Falcao, who was rated as one of the world's most explosive players during his spells at Porto and Atletico Madrid, has failed to meet such high expectations since moving to Old Trafford.

However, his disappointing return of just six goals in 30 appearances does not seem to have deterred Louis van Gaal, who is willing to persevere with the player, albeit in a supporting striker role.

The Colombian suffered a cruciate knee ligament injury in January last year which kept him out of his country's run to the World Cup quarter-finals.

Falcao's faltering form this season is said to be a product of his rushed recovery from the injury and futile attempt to play in the tournament.

United, however, seem keen to extend the loan deal and re-assess the striker after he has had a restful summer and a full pre-season.