AS Monaco has secured the signing of Folarin Balogun from the English Premier League outfit Arsenal.
The 22-year-old striker who had a tally of 22 goals in 39 matches from a loan spell at another Ligue 1 side Stade Reims last season, has penned a five-year contract with Les Rouge et Blanc in a £34m deal with a 17.5% sell-on clause.
“Folarin Balogun has joined Ligue 1 side AS Monaco in a permanent transfer. The 22-year-old forward joined us at the age of ten and developed through our Academy, enjoying success in all age categories in youth football, signing his first professional contract with us in February 2019.
“We thank Folarin for his contribution to Arsenal, through our Academy into the first team, and wish him the best of health and happiness in his new chapter at AS Monaco. The deal is subject to the completion of regulatory processes.” An official statement on Arsenal.com explained.