Ligue 1 club closing in on agreement to sign Arsenal star on permanent deal - Reports

AS Monaco are reportedly close to reaching an agreement with Arsenal for striker Folarin Balogun.

According to The Athletic's transfer news specialist David Ornstein, the two clubs are negotiating the final transfer fee for the forward. The Ligue 1 giants notably had a bid for Balogun turned down by the Gunners earlier this summer.

Ornstein provided a part of the update via X (formerly Twitter) on Thursday, August 24, writing:

"AS Monaco close to reaching agreement with Arsenal to sign striker Folarin Balogun. Clubs still negotiating final price but 22yo USA international is now on course to join #ASMonaco from #AFC in permanent deal."

According to the report, Monaco's pursuit of Balogun comes after Breel Embolo suffered a serious ACL injury in training. The Swiss striker looks set for an extended spell on the sidelines.

Balogun, meanwhile, has already proved he has what it takes to excel in Ligue 1. The 22-year-old spent last season on loan at Stade Reims and finished as the joint fourth-highest scorer in the league with 21 goals in 37 games.

He first attracted attention during his impressive spells with Arsenal's age-group teams. Balogun scored 75 goals in 103 combined games for the Gunners' U18 and U21 sides, while adding 18 assists as well.

However, the forward never really got a chance with the first team, taking to the pitch for only 209 minutes across 10 appearances, scoring twice. He has also won two caps for the USNMT, netting once.

Balogun now looks set to join a Monaco frontline that includes Takumi Minamino, Myron Boadu, Wissam Ben Yedder and Gelson Martins.

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Folarin Balogun is seemingly at the bottom of the pecking order at Arsenal

Folarin Balogun has not made even the bench for Arsenal's first two Premier League games of the new season. He didn't make their squad for their FA Community Shield contest against Manchester City either.

Gabriel Jesus is the Gunners' first-choice striker, with Eddie Nketiah playing up front due to the Brazilian's injury. Outside of the two, manager Mikel Arteta has also used summer arrival Kai Havertz as a centre-forward. Leandro Trossard, who arrived in January from Brighton & Hove Albion, can play down the middle, too.

It has meant that Balogun has fallen virtually to the bottom of the pecking order at Arsenal. His departure from the Emirates has been on the cards for some time now due to his vocal statements about wanting consistent game time.