Folarin Balogun joins Monaco from Arsenal

The 22-year-old has put pen to paper on a contract that will keep him at the Ligue 1 outfit until 2028, joining for an undisclosed fee thought to be worth around €40m (£34.6m).

Arsenal are expected to receive €30m (£25.9m) up front, with the rest coming as add-ons, while the London club are also understood to have a sell-on clause of almost 20% as part of the agreement.

The move sees Balogun end a 15-year association with Arsenal, having joined the Gunners as an eight-year-old in 2008.

However, he only made 10 appearances for the senior side following his debut in 2020, and has spent the past season-and-a-half away on loan.

Balogun’s most recent loan spell saw him star in Ligue 1 last season as he scored 21 goals in 37 league outings for Reims, and 22 in 39 games across all competitions.

Only Kylian Mbappe, Alexandre Lacazette and Jonathan David scored more than the USA international in the French top flight last term.

The striker becomes Monaco’s fifth, and most expensive, signing of the summer, following Denis Zakaria, Mohammed Salisu, Wilfried Singo and Philipp Kohn through the door.

Les Monegasques have made an unbeaten start to the new Ligue 1 season, taking seven points from the first nine on offer to sit top of the embryonic table.

Balogun could make his debut for his new side when they host Lens on Saturday.