Arsenal have reportedly knocked back a formal offer for Folarin Balogun from Monaco.
A hugely successful loan spell at Reims last season saw the Gunners striker emerge as one of Europe’s top prospects ahead of the summer.
![Balogun [left] certainly knew where the target was at Reims last season](https://talksport.com/wp-content/uploads/sites/5/2023/02/29-folarin-balogun-sdr-ligue-795262115.jpg)
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![He's now back at his parent club with his future up in the air](https://talksport.com/wp-content/uploads/sites/5/2023/08/folarin-balogun-832632923.jpg)
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Balogun scored 21 goals in Ligue 1, putting him joint-fourth in the French top flight scoring charts with Lens’ Lois Openda.
He also scored his first international goal for the USA in June after switching his allegiance from England.
It was reported in April that Balogun is keen to leave Arsenal if he is not guaranteed minutes.
With just under a month of the transfer window still remaining, Monaco have stated their intentions to sign him up.
![Arsenal legend Seaman explains why Raya transfer could be good news for Ramsdale](https://talksport.com/wp-content/uploads/sites/5/2023/08/SD-TALKSPORT-SEAMAN-RAMSDALE.jpg?strip=all&w=360&h=240&crop=1)
![Forest strike deal with Arsenal for Turner but remain interested in Man United man](https://talksport.com/wp-content/uploads/sites/5/2023/08/faa14252-94a5-40b7-94eb-139b75cad0c7.jpg?strip=all&w=360&h=240&crop=1)
However, The Athletic report that their formal bid for the striker has been rejected by Arsenal.
Monaco also saw a verbal proposal for the 22-year-old turned down after their Emirates Cup match last week.
Despite the response, the French outfit are set to continue their efforts to sign Balogun with sporting director Thiago Scuro said to have a ‘strong relationship’ with his Arsenal counterpart Edu.
Champions League finalists Inter Milan are said to be keen too, although it remains to be seen if they can actually afford a move.
![Balogun may have his minutes limited at Arsenal but isn't short of admirers](https://talksport.com/wp-content/uploads/sites/5/2023/08/folarin-balogun-832627825.jpg)
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Back in the Premier League, talkSPORT reported last week that West Ham are considering a move for Balogun.
He was not named in Arsenal’s squad for their Community Shield win against Manchester City on Sunday.
However, Gabriel Jesus’ absence for the start of the new season could prove to be a stumbling block in a potential departure.
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