Monaco has officially announced the signing of Arsenal forward Folarin Balogun on a five-year contract worth £45 million.
Balogun, who had an impressive run on loan at Reims, was keen on leaving Arsenal this summer transfer window.
To enable him to get regular playing time, he attracted interest from multiple teams, including West Ham, Fulham, and Chelsea.
The Gunners revealed that they received £34.4 million from the sale of the player, according to Sky Sports.
Apparently less than the £50m price tag, Arsenal are believed to have a 17.5% sell-on clause in the deal.
Balogun has been long linked to Monaco, and after receiving a series of bids that were previously rejected,
They have finally succeeded in securing their target, who has already agreed to personal terms.
The 22-year-old returns to Ligue 1 club As Monaco after being on loan last season to Stade de Reims, making 39 appearances and scoring 22 goals. The contract will see him stay at the club until June 2028.
In January 2022, he moved to championship side Middlesbrough on a loan spell during the second half of 2022–23.
Folarin made 18 appearances, scoring three goals, during his stay at Riverside Stadium.
In conclusion, he joined Ligue 1 side Stade de Reims on loan last season,a campaign that brought the talents of the player to the limelight.
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