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Arsenal have rejected a formal bid from AS Monaco for Folarin Balogun, who is expected to leave the Emirates this summer.
Balogun has been the subject of transfer speculation this summer with Inter Milan, Juventus and now Monaco all looking to sign him.
Inter Milan have tried to sign the youngster from Arsenal but could not meet the valuation set by the Gunners.
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In the wake of last week's preseason friendly between the two teams, Monaco had an initial verbal offer for the USMNT player rejected.
Monaco's pursuit of Balogun, 22, is still going strong despite the rejection of a written bid by Arsenal.
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Monaco still wants Balogun
Recent reports state that Monaco are not backing down on the deal and will make another move for the youngster.
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According to David Ornstein via The Athletics, “Arsenal rejected a written bid from Monaco for Folarin Balogun.
"Follows verbal offer turned down by #AFC after a friendly. #ASMonaco pursuit ongoing - sporting directors have good relationships. #Inter keen but unclear if they can afford.”
Thiago Scuro, the sporting director of Monaco, gets along well with Edu and hopes to seal the deal with his relationship.
Monaco are on the hunt for a striker following the news that Breel Embolo ruptured his anterior cruciate ligament during training and would be sidelined for a long time.
They have identified Balogun as a good replacement for the team to fill in for the injured Embolo.
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Balogun scored 21 Ligue 1 goals in 37 games while on loan from Arsenal to Stade Reims in France last season.
Speaking in July about his future, Balogun said as reported by the Athletics, “I obviously went away and the point was to prove I could play first-team football.
“I feel I was able to do that and show people I can play at that level. I think with me coming back it’s not really much of a situation where I think I need to try extra hard to prove something.
“I think it’s a decision that’s not really with me. Whatever happens, I’m cool with it.”
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