Inter Milan are in contact with Arsenal over the potential signing of Folarin Balogun, with sporting director Piero Ausilio in London on transfer business.

Italian outlet La Gazzetta dello Sport report that Inter Milan sporting director Piero Ausilio has been in London since Wednesday to conduct a series of meetings.

Ausilio reportedly tested the waters for Folarin Balogun, with Arsenal demanding a fee in the region of €40m (£34m).

Balogun is viewed as a potential replacement for Edin Dzeko, and Inter would ideally like to sign him on loan, but Arsenal aren’t interested in that option.

David Ornstein previously reported that Balogun himself doesn’t want to go on loan again anyway.

John Cross recently wrote for the Mirror that Napoli were ready to compete in the race to sign Balogun, as they eye up potential replacements for Victor Osimhen this summer. So it seems Inter will have competition from within Serie A.

Plenty of clubs appear to be interested in a move for Balogun, with The Athletic also linking AC Milan, RB Leipzig, Marseille, and AS Monaco to the striker.

Leipzig are seemingly fading from the race, with Philipp Hinze of Sky Sport Germany reporting that a Leipzig transfer for Balogun is currently unlikely.

Hinze claimed that if Arsenal insist on a transfer fee of €40m plus add-ons, Leipzig would refrain from making a move for Balogun this summer.

Reports from Italy in recent weeks revealed that Balogun is a popular option at Milan, with Arsenal open to offers, and the Mirror also highlighted Milan’s interest.

Milan are expected to have a €50m budget on top of any money they generate through sales, and a significant proportion of that money is set to go towards a new striker.

Balogun recently scored his 21st and final goal of the Ligue 1 season, bringing him to 22 goals in all competitions.

The striker’s spell on loan to Stade de Reims has been impressive, and he’s also recently committed his international future to the United States.