Radamel Falcao will have to wait until May to discover if Manchester United are to make his move from Monaco permanent as Louis van Gaal will not make any decision until then.

The striker has struggled for fitness and form since joining on loan last summer in a deal worth a total £16m and it will cost £43m for United to take up their option to buy the Colombian. There are at least 12 games of their campaign remaining – 11 in the league plus Monday’s FA Cup quarter-final against Arsenal – and Falcao will in effect be playing for his future at the club.

It is understood that United do not have to exercise the option until near the end of the season; the final Premier League matches are on Sunday 24 May.

He took until October’s 2-1 home win against Everton to score his first goal for United, in his fourth game, and Falcao has managed a total of only four goals in his 20 appearances for Van Gaal’s side. Because of this disappointing return and the 29-year-old’s generally sluggish play, it would represent something of a surprise if United were to buy Falcao, particularly given his £43m price tag.