EXCLUSIVE: Balogun agrees Chelsea terms but Blues face Arsenal battle over transfer fee

Steve Kay

21 Aug 2023 08:05 CDT
4 min read

Folarin Balogun, Gabriel Martinelli, Arsenal, 2023/24 — © ProShots

Arsenal and Chelsea remain in talks over a transfer for striker Folarin Balogun, with the forward already having agreed personal terms with the Stamford Bridge club.

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Although there is optimism from the Blues that they will be able to come to an agreement over the striker, Arsenal are holding out for a huge sum for the forward.

The Gunners intend to bank as close to £50 million for the Hale End graduate as possible, but the Blues have made it clear that they have no interest in doing business at that price.

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Instead, Chelsea have told their Premier League rivals that they will not go higher than £30m for the 22-year-old, who caught the eye with Reims in Ligue 1 last season, scoring 21 times in France’s top flight.

Balogun, who is under contract at Arsenal until 2025, is a player who has attracted a good deal of attention in the summer transfer window, with FootballTransfers exclusively revealing that West Ham United are also interested in the player, who is particularly appreciated by David Moyes.

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A bit on Folarin Balogun, Nicolas Pepe and why the Gunners won't get their ridiculous £50m asking price. https://t.co/mVrjOJKgRS
— Robin Bairner (@RBairner) August 21, 2023

Monaco pose serious Balogun threat

Monaco offer the most serious challenge to Chelsea’s hopes of landing the USMNT striker, however.

The Ligue 1 club, who have seen striker Breel Embolo go down with a serious injury, are prepared to get close to Arsenal’s valuation of Balogun but FootballTransfers understands that personal terms are not completed with the club, while the striker also has the desire to go to Chelsea as his first option.

Balogun wants first-team football but finds himself only as third-choice striker at Arsenal, where Gabriel Jesus and Eddie Nketiah are ahead of him in the pecking order.

With the Brazil international still out of action due to knee surgery, Balogun could be handed minutes to impress against Crystal Palace on Monday while the Gunners also have a home encounter against Fulham looming before the close of the summer transfer window.