$48.5M: Arsenal, Monaco finalizing Folarin Balogun transfer

Arsenal and USMNT striker Folarin Balogun is nearing a permanent transfer to AS Monaco for a fee in the region of $48.5M.

The fee will make Balogun the second most expensive American transfer ever, behind Christian Pulisic’s $69M move to Chelsea from Borussia Dortmund.

Balogun, 22, is coming off a breakout season on loan in Ligue 1 with Reims. The striker scored 22 goals in 39 appearances with the French club, fifth best in the league.

A product of the Arsenal academy, Balogun joined the Gunners in 2008 and made his first team debut during the 20/21 season. Mostly appearing in the Europa League that season, Balogun scored twice and made six appearances.

That would be the most involved he would get to be under Mikel Arteta. Balogun would only make four more appearances for Arsenal over the next two seasons, spending time on loan with Middlesbrough and Reims.

Born in New York but raised in England, Balogun’s breakout wasn’t reserved only for club level. A battle between the United States, Nigeria, and England ended with the USMNT victorious. Balogun has since made his international debut, making two appearances and scoring in the CONCACAF Nations League final as the U.S. lifted the cup.