INGLEWOOD, CALIFORNIA - JULY 26: Folarin Balogun of Arsenal gestures prior a game between Barcelona and Arsenal at SOFI Stadium on July 26, 2023 in Inglewood, California. (Photo by Trevor Ruszkowski/ISI Photos/Getty Images)
Balogun has been expected to move on from Arsenal this summer and is not short of suitors following his displays on loan at Reims last term.
The American is a wanted man and Chelsea are amongst the clubs to have taken a keen interest.
The Blues are poised to miss out though as, according to French radio station RMC, Monaco have now agreed a fee with Arsenal.
Monaco have agreed to pay around €45m plus add-ons to Arsenal to sign Balogun
The Gunners attacker is expected to soon be put through his medical paces and then sign a five-year contract with Monaco.
Balogun will look to continue his superb form in Ligue 1 with Monaco and further kick on with his development at the Stade Louis II.
The 22-year-old scored an impressive 21 goals in 37 Ligue 1 outings last season, with scoring against Monaco included in the haul.
