Arsenal striker, Folarin Balogun, has left Premier League side, Arsenal, to join French League 1 powerhouse, AS Monaco, in a deal worth €40m on Wednesday.
Monaco confirmed the American international’s signing in a statement released on its official website on Wednesday.
According to the French club, the ex-Arsenal striker penned a five-year contract which will last until the summer of 2028.
“AS Monaco are delighted to announce the arrival of striker Folarin Balogun from Arsenal. The 22-year-old American international has signed a five-season deal and is now tied to Monaco until June 2028,” the statement read.
The 22-year-old New York-born striker of Nigerian descent who joined Arsenal at the age of 8 trained at every youth level from 2009 to 2019, before signing his first professional contract at the age of 17 with the London club.
Balogun caught the eyes of Monaco during his loan spell at French side Stade de Reims where he had a convincing season, netting 22 goals and 6 assists in 39 games as Reims. He contributed to an impressive run 19 games unbeaten run for the club and won several UNFP Player of the Month nominations.
According to popular sports journalist, Fabrizio Romano, Balogun joined Monaco in a deal in excess of €40m package, €30m plus significant add-ons structure.
The Italian transfer specialist also revealed that “Arsenal will have a sell-on clause, it was always a crucial point in negotiations. It will be a bit less than 20%.”
Balogun who was regular in the youth England national teams, where he played 28 games and scored 10 goals, has switched nationality after deciding to play for the United States.
Last June, the Brooklyn native received his first call-up to the US national team and played in the final stages of the CONCACAF Nations League.
After eliminating Mexico in the semifinals (3-0), the American players won the final against Canada (2-0), a match in which Folarin scored his first goal and won his first title with Team USA.
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