In what could be just the start of the huge transfer business of the summer, newly promoted Ligue 1 side AS Monaco are looking to splash a whopping £50 million on midfielder Joao Moutinho and winger James Rodriguez from FC Porto.

The former 2004 Champions League finalists are bankrolled by Russian oligarch Dmitry Rybolovlev who hasn’t been shy in splashing money on transfers with the signing of wonderkid Lucas Ocampos from River Plate last summer for a reported £14 whilst in France’s second tier.

After finally winning promotion to Ligue 1 this summer, they have set their targets much higher with twenty-one year old Columbian winger James Rodriguez and twenty-six year old central midfielder Joao Moutinho reportedly set to join the club in the next few days.

Both would prove a huge coup for Monaco and the french league in general, which has gone through a renaissance in European football since Paris St.Germain began their own revolution signing the likes of Zlatan Ibrahimovic, Thiago Silva and Lucas Moura for huge fees over the past couple of seasons.

The biggest signing which has been speculated this week is the imminent arrival of free scoring Columbian International striker Fadamel Falcao from Atletico Madrid.

The twenty seven year old also looks set to join Monaco this summer in a wallet busting £55 million deal from La Liga’s third placed side, and could earn a reported £10 million a-year after tax.

Falcao is one of the hottest properties in football with goals following his every move, especially since replacing Sergio Aguero at the Estadio Vicente Calderon managing a goal every game.

It certainly looks to be an interesting summer ahead for Les Rouges et Blanc with a whole host of world class players set to join the ranks in their quest of winning the Ligue 1 trophy for the first time since 2000 under manager Claudio Ranieri.