Arsenal to cash in as Everton make £42.8m signing

Fabrizio Romano reports that Everton have agreed a deal to sign former Arsenal striker Folarin Balogun from AS Monaco, with a fee of €45m (£38.5m) plus another €5m (£4.3m) in add-ons.

Monaco have authorised Balogun to travel for a medical, and he’ll sign a four-year deal to 2030 with an option for a further year.

Sam Dean reports for The Telegraph that Arsenal have a 17.5% sell-on clause in Balogun’s contract. That means the Gunners should receive a minimum of £6.74m, and a maximum of £7.49m, depending on if all the add-on conditions are met over the course of the player’s deal.

Given Arsenal initially sold Balogun for around £35m, the addition of another £6-7m will take the total proceeds above the Gunners’ £40m sale of Alex Oxlade-Chamberlain to Liverpool.

That would make the Balogun sale Arsenal’s club-record transfer, but only if it all gets done before Gabriel Martinelli’s £60m move to Al Hilal goes through.

Regardless of the club-record holder, Arsenal look to be bringing in a big chunk of cash on deadline day. With the sales of Martinelli, Gabriel Jesus, and Fabio Vieira, and sell-on money on top, the Gunners are set to bring in more in one day than in most full years in the club’s history.

Balogun scored 31 goals in 91 games for Monaco, but interest in him received a big boost during the World Cup. The striker scored three goals and assisted one for the American hosts, though his controversial red-card overturn may remain the lasting memory of his tournament.

Everton look to be the club to ultimately decide the striker’s performances are worth investing in.