Monaco have announced the signing of Folarin Balogun from Premier League outfit Arsenal.
The Gunners received £34m for the forward with a 17.5% sell on clause also inserted in the deal.
Balogun penned a five-year contract with the Ligue 1 club.
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A statement via Arsenal.com reads: “Folarin Balogun has joined Ligue 1 side AS Monaco in a permanent transfer. The 22-year-old forward joined us at the age of ten and developed through our Academy, enjoying success in all age categories in youth football, signing his first professional contract with us in February 2019.
“We thank Folarin for his contribution to Arsenal, through our Academy into the first team, and wish him the best of health and happiness in his new chapter at AS Monaco. The deal is subject to the completion of regulatory processes.”
Balogun caught the eye after scoring 22 goals in 39 matches while on loan at another Ligue 1 club, Stade Reims from Arsenal last season.
