Chelsea Football Club is reportedly exploring the possibility of acquiring striker Folarin Balogun from their London rivals, Arsenal, before the closure of the summer transfer window. Despite having already made substantial signings totaling €323 million during this transfer window, Mauricio Pochettino’s side is actively seeking further reinforcements to bolster their squad. In addition to securing a backup goalkeeper, Chelsea is keen to add another attacking option to their ranks, especially after missing out on the signing of Crystal Palace winger Michael Olise.
Last season, Chelsea faced challenges in terms of goal scoring, and as a result, they have turned their attention to Folarin Balogun of Arsenal as a potential solution. Balogun, who represented the United States Men’s National Team, notably netted 21 goals for Reims in Ligue 1 while on loan in France during the previous campaign.
Despite his impressive performance in the 2022/23 season, Balogun has yet to fully convince Arsenal’s manager, Mikel Arteta, and currently stands as the third choice for the No.9 position at the Emirates Stadium, trailing behind Gabriel Jesus and Eddie Nketiah.
Desiring regular playing time and a platform to showcase his talent, Balogun appears to be open to a move away from Arsenal. It was previously reported by FootballTransfers that West Ham United’s manager, David Moyes, is also keen on acquiring the young striker. However, Chelsea seems to be in discussions regarding a potential transfer, as per information from the Daily Mail.
Other clubs are also showing interest in Balogun, including Fulham, Monaco, and Inter. However, the reported asking price set by Arsenal for Balogun is deemed quite high, standing at €58.5 million (£50 million). This valuation significantly exceeds Balogun’s Expected Transfer Value, which is calculated at €19.2 million. Furthermore, it is double the peak valuation of €24 million.
While Fulham has indicated a limit of €41 million (£35 million) for their bid, Chelsea is likely to operate within a similar budget framework. This is particularly significant as the reported budget was initially intended for securing the services of Michael Olise.
Given Balogun’s contract with Arsenal running until 2025, a swift resolution to the potential transfer seems unlikely unless the two clubs can find common ground in terms of the asking price.
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