Folarin Balogun sealed a £34.3m move from Arsenal to AS Monaco this week, ending speculation about the striker’s future.

Arsenal manager Mikel Arteta has elaborated on why the North London club opted for the sale.

• Mikel Arteta reveals a lack of squad space as the primary reason for selling Folarin Balogun to AS Monaco.
• Arsenal have secured a 17.5% sell-on clause in Balogun’s AS Monaco contract, revealed by multiple sources.
• Balogun caught the eye last season while on loan at Stade de Reims, leading to interest from Inter Milan and a host of London clubs.

Mikel Arteta’s insight

“We didn’t have space for him in the squad to give him the minutes that he needs,” Arteta said at his pre-Manchester United press conference.

“He was doing well last year in his loan period. He’s evolving the right way and wanted the chance to continue developing his career. He’s going to a really good club that has huge experience of developing talent, as everybody knows. So I’m really happy for him as well.”

Sell-on clause revealed

Various reports, including those from Sam Dean of The Telegraph and Kaya Kaynak of Football.London, confirm Arsenal’s 17.5% sell-on clause in Balogun’s Monaco contract.

Balogun’s rise

Balogun found the back of the net 22 times in his loan stint with Stade de Reims last season.

His form caught attention across Europe, most notably from Inter Milan and various London-based clubs, including West Ham United, Crystal Palace, Fulham, Chelsea, and Tottenham Hotspur.

Other sell-on successes

Arsenal have recently capitalised on sell-on clauses, gaining additional funds from the transfers of Konstantinos Mavropanos (10%) and Matteo Guendouzi (15%).