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Well, it was Football Transfers who initially claimed that Chelsea had opened talks to sign the United States international back in July.
Further credibility has been given to the story as Sky Sports and the Daily Mail also claim that Chelsea have spoken to Balogun.
Now – according to Football Transfers once again – the Blues seem to have made progress on a deal to sign the American.
It is said that Chelsea have agreed personal terms with the 22-year-old.
Football Transfers believe Chelsea still need to agree a fee with Arsenal, as the Gunners are refusing to budge from their £50m valuation.
The story states that Chelsea are willing to spend £30m on Balogun – who outscored Lionel Messi and Neymar in Ligue 1 last season with 21 goals in 37 appearances.
Football Transfers add that Chelsea are optimistic about finding an agreement with Arsenal despite the current gap in valuation.
West Ham and Monaco are also said to be interested in signing Balogun.
Chelsea face more competition for Balogun
West Ham and Monaco are not the only sides ready to fight against Chelsea for Balogun.
According to the Daily Mail, Tottenham are looking at the New York-born striker as a potential replacement for Harry Kane, after the England international joined Bayern Munich.
Balogun is said to want regular first-team football at his next club, so the fact there is now an opening in north London could attract him to team up with Ange Postecoglou in N17.
Having said that, anything can happen in the transfer window, so be sure to keep an eye on the situation.