Transfer News UPDATE: Ligue 1 Club AS Monaco CONFIRM Signing Of Folarin Balogun From Arsenal

UPDATE: Wednesday, August 30 at 7:29 pm

AS MONACO unveiled the former Arsenal striker Folarin Balogun as their latest recruit this Wednesday, August 30. He joins on a five-year deal through to June 2028 according to the club’s website.

The 22-year-old American international striker was welcomed by the Ligue 1 club in a tweet accompanied by a video, simply captioned: ‘FOLARIN BALOGUN IS RED AND WHITE’

FOLARIN BALOGUN IS RED AND WHITE 🇺🇸😍 pic.twitter.com/2MoxQXICNu

— AS Monaco EN (@AS_Monaco_EN) August 30, 2023

He arrives with Monaco currently topping the league table after the first three matches of the season. They will no doubt be hoping that Balogun can continue his goalscoring exploits of last season when he was on loan with Reims for whom he netted on 21 occasions out of 37 appearances.

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UPDATE: Tuesday, August 29 at 2:25 am

PENDING medical tests, Arsenal’s American striker Folarin Balogun looks like completing a permanent move to Ligue 1 outfit AS Monaco.

Fabrizio Romano tweeted: ‘Folarin Balogun to AS Monaco, here we go! Agreement completed with Arsenal on €40m package add-ons included  #ASMonaco  Understand Arsenal will also retain significant sell-on clause for the future. Medical tests expected this weekend. Long-term deal for Balogun’.

⚪️🔴✍🏻 #ASMonaco https://t.co/Vu3CW48Vc1

— Fabrizio Romano (@FabrizioRomano) August 28, 2023

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Monday, August 28 at 2:53 am

AS MONACO are said to be on the verge of signing Folarin Balogun from Arsenal.

Fabrizio Romano, the respected Italian football expert reported that a deal was pretty close. He tweeted: ‘More on Flo Balogun. Player has already said yes to AS Monaco project and also agreed personal terms days ago — deal being finalised between clubs.  Arsenal insisting on final payment terms details then it will be done/sealed’.

More on Flo Balogun. Player has already said yes to AS Monaco project and also agreed personal terms days ago — deal being finalised between clubs. 🔴⚪️🇺🇸

Arsenal insisting on final payment terms details then it will be done/sealed. pic.twitter.com/3iotGPgmqc

— Fabrizio Romano (@FabrizioRomano) August 24, 2023

Balogun scored 21 goals for Reims in Ligue 1 last season

Since being loaned out by the Gunners last season to Ligue 1 outfit Reims, the 22-year-old American international striker has found himself attracting attention from a number of Europe’s top clubs.

He found the back of the net on 21 occasions out of 37 appearances for the French club. That prolific marksmanship saw Balogun finish as the fourth-highest scorer in the league and yet he has still not figured in Mikel Arteta’s plans since returning to his parent club and appears to be surplus to requirements at the Emirates Stadium.

Inter Milan made enquiries about him in July when their interest in Belgian forward Romelu Lulaku cooled after he looked like signing for their Serie A rivals Juventus.

Tottenham, West Ham and Chelsea are all known to have contacted Arsenal about Balogun during this summer’s transfer window but it is believed they were put off by the reported £50m price tag that the Londoners attached to him.

Arsenal could be looking to offload up to nine players

According to dailymail.co.uk, Arsenal are looking to offload at least nine of their squad before the window slams shut at the end of this month.

Gabriel Magalhaes is rumoured to be among those that Arteta will allow to leave if a decent offer was to be received. Real Madrid was rumoured as a possible destination for the 25-year-old Brazil international after their central defender Eder Militao was sidelined for a significant period of time with injury.

With new arrival Jurrien Timber likely to be a long-term absentee after suffering an ACL injury, it would seem unlikely that the Gunners would let Takehiro Tomiyasu leave. The Japanese defender has reportedly attracted interest from Crystal Palace.

Arsenal are thought to have considered a move for Crystal Palace’s English defender Marc Guehi but with just one week to go until the transfer window closes, it would probably be too complicated at this point.

The future of the French striker Nicolas Pepe is very much up in the air. Brighton are rumoured to have asked about Albert Sambi Lokonga, while Real Sociedad, Aston Villa and Newcastle are all thought to want full-back Kieran Tierney. Arteta is also believed to be open to offers for Nuno Tavares, Cedric Soares and Rob Holding.