Folarin Balogun is nearing a big move from Arsenal to French club AS Monaco as it was reported by journalist Fabrice Hawkins on Thursday that the two clubs reached an agreement. The Balogun Monaco transfer would be permanent for €45 million ($48.6 million).
Balogun Monaco transfer
BREAKING: Arsenal and Monaco have reached an agreement for the transfer of Folarin Balogun on a 45M€ deal
— USMNT Only (@usmntonly) August 24, 2023
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
If the transfer fee of €45 million is accurate then this would be a historical deal for all parties involved. For Monaco it would tie the club’s most expensive transfer which is held by James Rodríguez when he arrived from Porto in 2014.
This would also be Arsenal’s biggest sale in history. The record is currently held by Robin van Persie and his shocking move to Manchester United in 2012 for €30.7 million.
As for Balogun he would become the second most expensive American transfer of all time. Christian Pulisic’s $70 million transfer to Chelsea in 2019 still holds the record, but Balogun would surpass Brenden Aaronson who made a $30 million move to Leeds United last summer.
Balogun should thrive in Ligue 1 with Monaco next season if the transfer goes through. He was on loan with French club Reims last season and scored 22 goals in 39 appearances across all competitions.
A return to Monaco should see a frequent return to the score sheet for the new American striker.
Balogun, born in New York City but grew up in England, announced this summer his decision to make a one-time nationality switch to represent the USMNT instead of England. He debuted in the Concacaf Nations League and scored in the final vs. Canada.
— CBS Sports Golazo ⚽️ (@CBSSportsGolazo) June 19, 2023
Monaco finished sixth in Ligue 1 last season and therefore won’t compete in any UEFA competitions for the 2023-24 season.