AS Monaco’s formal offer for Arsenal striker Folarin Balogun has been rejected.

As the French side shows continued interest, Arsenal remain steadfast in their valuation of the 22-year-old USA striker, demanding a price that meets their expectations.

Key Points

  • Arsenal have rejected Monaco’s initial bid for Folarin Balogun, holding out for a £45m fee for the striker.
  • Balogun, who impressed during his loan at Reims, is also targeted by Inter Milan but their financial constraints may affect the deal.
  • Monaco remains keen on Balogun after the player’s successful season in Ligue 1 and his performance against them in a recent friendly match.
Folarin Balogun Arsenal exit -Reims' English forward Folarin Balogun celebrates after scoring a goal during the French L1 football match between AS Monaco and Stade de Reims at the Louis II Stadium (Stade Louis II) in the Principality of Monaco on March 12, 2023. (Photo by VALERY HACHE/AFP via Getty Images)
Reims’ English forward Folarin Balogun celebrates after scoring a goal during the French L1 football match between AS Monaco and Stade de Reims at the Louis II Stadium (Stade Louis II) in the Principality of Monaco on March 12, 2023. (Photo by VALERY HACHE/AFP via Getty Images)

Arsenal turn down Monaco’s offer for Folarin Balogun

Monaco’s interest in Folarin Balogun has been evident since the French side faced Arsenal in a friendly last week.

However, their initial bid fell short of Arsenal’s £50m valuation of the young striker.

Balogun, who was successful with a host of league goals for Reims during his loan spell in France, caught Monaco’s eye, but the bid was not sufficient for Arsenal.

Inter Milan’s interest adds complexity to the transfer saga

WASHINGTON, DC - JULY 18: Jurriën Timber #12 and Folarin Balogun #26 of Arsenal FC speak during the MLS All-Star Skills Challenge between Arsenal FC and MLS All-Stars at Audi Field on July 18, 2023 in Washington, DC. (Photo by Tim Nwachukwu/Getty Images)
WASHINGTON, DC – JULY 18: Jurriën Timber #12 and Folarin Balogun #26 of Arsenal FC speak during the MLS All-Star Skills Challenge between Arsenal FC and MLS All-Stars at Audi Field on July 18, 2023 in Washington, DC. (Photo by Tim Nwachukwu/Getty Images)

Balogun’s performance has not only attracted Monaco’s attention but also Inter Milan.

After losing out in the race for West Ham’s Gianluca Scamacca, they are in the market for a striker.

However, their interest in Balogun is complicated by financial problems, restricting their budget to around £35m.

Mikel Arteta’s side is reportedly demanding a fee of around £45 million for the striker.

Arsenal’s stance on the transfer

WASHINGTON, DC - JULY 18: Folarin Balogun #26 of Arsenal FC looks on during the MLS All-Star Skills Challenge between Arsenal FC and MLS All-Stars at Audi Field on July 18, 2023 in Washington, DC. (Photo by Tim Nwachukwu/Getty Images)
WASHINGTON, DC – JULY 18: Folarin Balogun #26 of Arsenal FC looks on during the MLS All-Star Skills Challenge between Arsenal FC and MLS All-Stars at Audi Field on July 18, 2023 in Washington, DC. (Photo by Tim Nwachukwu/Getty Images)

Arsenal have a clear valuation for Balogun, and they are not willing to compromise.

Having seen his success at Reims, they understand his potential value.

The rejection of Monaco’s bid reflects Arsenal’s determination to either retain the talented player or ensure that they receive a fair fee.

It’s a complex situation, with multiple parties interested, but Arsenal’s stance seems unyielding.