Folarin Balogun medical scheduled! Arsenal and Monaco reach €40m agreement as striker nears Ligue 1 return

Folarin Balogun is set to join Monaco from Arsenal as the two clubs have agreed a €40 million (£34m/$43m) fee, and his medical has been booked.

Monaco and Arsenal have now agreed a package worth €40m for Balogun to move to the Ligue 1 club, and his medical will take place this weekend, Fabrizio Romano reports. The Gunners will also retain a significant sell-on clause.

Balogun has experience in France’s top-flight, having scored 22 goals for Reims last season while on loan from the Gunners. He is now poised to return, having made just 10 senior appearances for the north London club.Monaco will hope to complete the formalities of the deal and add Balogun to their squad as quickly as possible.Monaco will hope to complete the formalities of the deal and add Balogun to their squad as quickly as possible.