Monaco has signed Folarin Balogun from Arsenal in a £34m transfer ahead of Friday’s transfer deadline.
The 22-year-old returns to Ligue 1 after scoring 22 goals in 39 matches for Stade de Reims last season, signing a five-year contract with Monaco.
Arsenal will receive €40m (£34.4m) for Balogun and have inserted a 17.5 percent sell-on clause into the deal.
Balogun left Arsenal having been at the club since the age of 10, with the United States international not featuring in a competitive game for the Gunners this season since returning from his Reims loan deal.
The striker found himself behind both Gabriel Jesus, Eddie Nketiah, Kai Havertz and Leandro Trossard in the Arsenal forward pecking order.
Earlier in the month we reported that Monaco and Arsenal are in talks over the signing of striker Folarin Balogun, with Chelsea also interested in the US international.
The Blues have held tentative talks with intermediaries over the conditions of a potential deal for the 22-year-old.
Football coach Saul Isaksson-Hurst has been working with Arsenal academy product Folarin Balogun and believes he is one of the most exciting number nines in world football.