Manchester United made two key moves before the transfer window closes, acquiring Radamel Falcao, while sending Javier "Chicharito" Hernandez to Real Madrid.

Multiple reports confirmed on Monday that Manchester United won the race to acquire Falcao, beating several top-tier teams, including Real Madrid, Manchester City, Arsenal and Juventus.

According to the Daily Mail, Manchester United agreed to a £12 million season-long loan deal with Monaco with sources also saying that the Colombian striker will earn £340,000 per week for the duration of his stay at the Old Trafford.

Manchester United boss Louis van Gaal has been making big moves over the past several months in the hope of bouncing back from a dismal season.

Van Gaal, who replaced David Moyes this summer, also acquired Angel Di Maria from Real Madrid last week. Aside from Falcao and Di Maria, the Dutch manager also signed Daley Blind, Luke Shaw, Marcos Rojo and Ander Herrera.

Falcao, who is coming off a major surgery to repair a torn ACL, is expected to play a big role for the Red Devils this season, especially if Robin van Persie fails to stay healthy.

Manchester City and Real Madrid were considered as strong favorites to land the 28-year-old striker before Manchester United went all in to win the race.

Falcao, who has scored three goals in five games for AS Monaco this season, could make his debut against Queens Park Rangers on Sept. 14 at the Old Trafford.

Meanwhile, Manchester United also agreed to a loan deal that sent Hernandez to Real Madrid, who has been on the Spanish club's radar since the offseason.

Hernandez was introduced on Monday, and the 26-year-old Mexican expressed excitement with the career move, saying that playing for Real Madrid is a dream come true for him.

"I'm delighted and completely grateful to the whole institution of Real Madrid for having made the effort and I'll give it my all," Hernandez said via Real Madrid's official website. "There is no player in the world who can say they wouldn't like to wear this shirt or be at this club. It would be a big lie. For me it is a dream come true."

Hernandez, who scored four goals and had three assists in 24 Barclays Premier League games last season, is expected to play for the first time at the Bernabeu on Sept. 13 against Atletico Madrid.

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