Arsenal miss out on major deadline day payday after medical complication
Former Arsenal striker Folarin Balogun's move to Everton collapsed late on transfer deadline day
Arsenal have missed out on a major deadline day transfer windfall after Folarin Balogun's proposed move to Everton fell through at the 11th hour.
The 25-year-old was set to join David Moyes' side from Monaco on a permanent deal worth £38.5million plus £4.3m in add-ons. However, despite having his medical, Balogun decided against the move and left the club's Finch Farm training ground without signing.
Should Everton's move for Balogun had gone through, Arsenal would have benefited from the transfer after inserting a 17.5 per cent sell on clause into his Monaco contract. The United States international left the Gunners in 2023 to sign for the Ligue 1 side for £34.3m.
FOLLOW OUR ARSENAL FB PAGE! Latest Gunners news, analysis and much more via our dedicated Facebook page
Arsenal would have pocketed around £6.7m from the deal had it been completed. That would have made Balogun Arsenal's record sale, up until Gabriel Martinelli's proposed £55m move to Al-Hilal goes through.
Balogun spent 15 years at Arsenal. The first 12 were in the club's Hale End academy before he progressed through and made his first-team debut in a Europa League fixture against Dundalk in 2020.
But Balogun was unable to kick on and establish himself in the senior set-up at Emirates Stadium. Instead, he was sent out on loan to Middlesbrough and struggled, scoring just three times in 20 matches.
Folarin Balogun was set to sign for Everton late on transfer deadline day(Image: Elysia Su/ISI Photos/ISI Photos via Getty Images)
He then moved to Reims and that is where he kickstarted his career. During the 2022/23 season, the New York-born forward was on fire for the French side, netting 22 goals in 39 appearances.
There was some talk that Balogun could be reintegrated into Mikel Arteta's squad at Arsenal following his form at Reims, but he was instead allowed to leave again and join Monaco on a permanent deal.
He has since been on the French Riviera for the last three years, scoring 31 times in 91 matches in the process, but it looked likely that he would depart Monaco for Everton before the end of the transfer window.
The Toffees had agreed a deal with Monaco for Balogun earlier on Tuesday, only for concerns to grow during the striker's medical. That then led to Everton making a late offer to sign Joshua Zirkzee from Manchester United, but the Reds rejected that bid as they did not have enough time to replace him.
Everton and Monaco then continued talks and decided to renegotiate terms on a lower fixed fee with higher bonuses, which was accepted. However, the plug was pulled at the last minute, leaving the Toffees without a deadline day striker and just Thierno Barry as their only senior No.9 at the club.
Choose Football London as a 'Preferred Source' on Google News for quick access to the news you value.