Ligue 1 side AS Monaco have completed the signing of USA forward Folarin Balogun from Arsenal on a five-year deal, the club announced on Wednesday.
The 22-year-old departs the Gunners after almost 15 years in a deal reportedly worth around an initial €30 million that could rise to as much as €40 million with add-ons, with the Premier League side also said to have a sizeable sell-on clause for future buyers.
FOLARIN BALOGUN IS RED AND WHITE ???????????? pic.twitter.com/2MoxQXICNu
— AS Monaco EN (@AS_Monaco_EN) August 30, 2023
Balogun, who has been the subject of numerous bids from over a dozen clubs, returns to France, where he starred for Reims and finished the 2022–23 season with 21 league goals, ending as the league’s fourth-top scorer.
The youngster began his career at Arsenal’s famous Hale End Academy in 2008 at the age of 8. He signed his professional contract with the North London club in 2019 before making his senior debut in October 2020.
He moved to Middlesbrough on loan in January 2022, scoring three goals and providing three assists in 22 games. In August of the same year, he moved to Ligue 1 side Reims, and it was at the Stade Auguste Delaune that he made a name for himself as one of Europe’s hottest properties, finishing with 22 goals and three assists in 39 games across all competitions.
Folarin, who is now an international for the United States, made his USMNT debut in June 2023 and scored his first goal for the side in their CONCACAF Nations League final win over Canada.
Monaco are currently top of the Ligue 1 table with seven points from their first three games, and Balogun will be hoping to make his debut when they take on Lens at the Stade Louis-II on Saturday, September 2.
