Colombia striker Falcao picked up the injury when he fell awkwardly during Monaco's Coup de France tie against lower division side Monts D'Or Azergues on Wednesday.
He underwent scans in hospital the following day but there is already fears he has suffered ACL damage, instantly ruling him out for at least six months.
That would, of course, leave Monaco short in the striking department, meaning they may choose to halt Traore's move to Everton at the last minute.
The Ivorian only moved to Monaco at the start of this month but the Ligue 1 side feel a temporary deal away from the club is better for his development.
The Toffees have already received a work permit for the 23-year-old and hoped to complete a six-month loan deal by the end of this week - before Falcao's injury threw a curve ball into negotiations.
When asked about the deal in a press conference on Thursday Everton boss Roberto Martinez remained calm, though he confirmed he had yet to hear update from Monaco.
"It was shocking news around European football when a player of the quality of Radamel Falcao gets a long-term injury.
"We hope that is not something that should affect the decision to allow Lacina to go out on loan. I think it would go down to what the player needs in his development and I hope that (Falcao’s injury) would have no bearing on the decision.
"We are really far down the line and it would be a real disappointment not to compete it, so we will see what today brings.
"We have got the work permit and we feel quite excited about bringing Lacina to Everton."
Sketchy reports on Twitter (I know, I know) claimed Traore's agent has confirmed the deal will still go ahead despite Falcao's injury.
I guess the ball is now in Monaco's court as they wait for a prognosis on the Colombian's injury.
It's certainly frustrating as it was suggested last week that the deal would have been wrapped up by now.
With a tricky tie at Stevenage on Saturday swiftly followed by the Merseyside derby on Tuesday, an already weary Romelu Lukaku really needs some extra support.
Maybe Velios can stop messing around with Magaye Gueye or talking selfies and concentrate on doing what he is paid to do?
Didn't think so.