In a significant move for both clubs, United States forward Folarin Balogun has completed his transfer to AS Monaco from Arsenal. The deal, which was officially announced on Wednesday, sees the 22-year-old Balogun signing a five-year contract with the Ligue 1 club.
Balogun’s transfer to Monaco is valued at over $40 million (£34 million), making it one of the most notable deals in this transfer window. The agreement also includes a 17.5% sell-on clause, indicating that Arsenal will benefit financially if Balogun is sold in the future.
Having joined Arsenal at the tender age of 10, Balogun developed into a promising young talent within the club’s renowned academy. His potential was further highlighted during a successful loan spell with Stade de Reims in Ligue 1 last season, where he scored an impressive 22 goals.
The move to Monaco marks a return to France for Balogun and presents an opportunity for him to build upon his previous successes in Ligue 1. Given his proven goal-scoring ability, Balogun is expected to bolster Monaco’s attacking options and contribute significantly to their campaign in the upcoming season where they hope to regain their European spot.
