Arsenal set Folarin Balogun asking price after rejecting two bids

Arsenal, having taken a break from the market for a few weeks, has resumed its pursuit of new players.

Fabrizio Romano has announced that the Gunners have agreed to a loan deal with David Raya, with the possibility of a permanent transfer. Mikel Arteta is making his fourth summer signing with the goalkeeper.

The purchase of Declan Rice for a then-record $33 million, along with the additions of Kai Havertz and Jurrien Timber, rewrote Arsenal‘s transfer record books. Since Raya should arrive over the weekend, attention shifted away from him to the remaining gaps the English side has yet to fill.

Right Folarin Balogun price can help Arsenal with other signings

Arsenal’s ability to approve a new transfer is contingent on several factors, including the upcoming sale of Folarin Balogun. After scoring 22 goals for French club Reims on loan, the American striker has returned to London.

It is becoming more unlikely, though, that he will still be there when the transfer market closes on September 1. According to reports, Balogun has ruled out the idea of completing a short-term transfer away from the Gunners. If he gets cut from Mikel Arteta’s plans, he wants to make it permanent.

Inter and Monaco’s previous bids fell short

Due to Arsenal’s high asking price of around $51 million, West Ham and Monaco emerged as the two primary rivals for the signature of the talented player. Although, it did not work out the first time the French side tried to lure the player back to League 1.

The Athletic recently suggested that Monaco’s early attempts (both written and verbal) were unsuccessful. Meanwhile, the attacker wanted to join one of the Milan teams, with Inter being the frontrunner, according to the Independent.

The UEFA Champions League runners-up, despite their best efforts, just cannot afford the price tag. Folarin Balogun asked Arsenal to reduce its asking price of over $60 million after the Nerazzurri lost interest in him.

But the Gunners have taken a clear position on his valuation. The report adds that Balogun would be ‘OK with any scenario,’ but remaining in the Premier League would be preferable.

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