Arsenal to cash in as Everton make £42.8m signing

Arsenal to cash in as Everton make £42.8m signing Folarin Balogun is set to join Everton, with Arsenal to profit from a sell-on clause that might briefly make the striker their club-record sale. Photo by Luke Hales/Getty Images Fabrizio Romano reports that Everton have agreed a deal to sign former Arsenal striker Folarin Balogun from AS Monaco , with a fee of €45m (£38.5m) plus another €5m (£4.3m) in add-ons. Monaco have authorised Balogun to travel for a medical, and he’ll sign a four-year deal to 2030 with an option for a further year. Sam Dean reports for The Telegraph that Arsenal have a 17.5% sell-on clause in Balogun’s contract. That means the Gunners should receive a minimum of £6.74m, and a maximum of £7.49m, depending on if all the add-on conditions are met over the course of the player’s deal. Photo by Richard Heathcote/Getty Images Given Arsenal initially sold Balogun for around £35m, the addition of another £6-7m will take the total proceeds above the Gunners’ £40m sale of Alex Oxlade-Chamberlain to Liverpool . That would make the Balogun sale Arsenal’s club-record transfer, but only if it all gets done before Gabriel Martinelli’s £60m move to Al Hilal goes through. Regardless of the club-record holder, Arsenal look to be bringing in a big chunk of cash on deadline day. With the sales of Martinelli, Gabriel Jesus , and Fabio Vieira , and sell-on money on top, the Gunners are set to bring in more in one day than in most full years in the club’s history. Photo by VALERY HACHE/AFP via Getty Images Balogun scored 31 goals in 91 games for Monaco, but interest in him received a big boost during the World Cup. The striker scored three goals and assisted one for the American hosts, though his controversial red-card overturn may remain the lasting memory of his tournament. Everton look to be the club to ultimately decide the striker’s performances are worth investing in. Photo by Michael Steele/Getty Images