Everton are closing in on the signing of American striker Folarin Balogun after reaching an agreement with French side Monaco over a deal that could be worth up to €50 million.
The Premier League club have agreed to pay €45 million upfront for the 25-year-old, with a further €5 million available through performance-related add-ons. The agreement also includes a sell-on clause, according to transfer expert Fabrizio Romano.
Romano confirmed the development on X, adding that Monaco are prepared to let Balogun leave while negotiations over the striker’s personal terms continue.
Once those terms are finalised, Balogun will be on course for a return to English football and another opportunity to establish himself in the Premier League.
The move comes as Everton look to reshape their attacking options following the departure of Beto, who has joined Italian Serie A club Fiorentina. Balogun is expected to provide additional firepower and compete for a leading role in the club’s attack.
For Balogun, the transfer represents a return to familiar territory. He began his professional career with Arsenal after progressing through the club’s academy and youth ranks.
However, opportunities in Arsenal’s first team were limited, prompting the striker to pursue regular senior football elsewhere. His move to France eventually gave him the platform to develop and attract attention from clubs across Europe.
Everton have now emerged as the club willing to make a significant investment in his services.
The striker’s return to the Premier League will give him the chance to demonstrate whether his experience abroad can translate into consistent performances in England. Everton will hope his pace, movement and goalscoring ability can strengthen an attack that needs greater depth.
Although the transfer agreement between the two clubs has been reached, the deal is not yet completely finalised. Personal terms between Balogun and Everton still need to be settled before the move can be completed.
Should those negotiations conclude successfully, Balogun will begin a new chapter in his career at Goodison Park, with Everton expecting him to make an immediate contribution.
The club will also be hoping that its €45 million investment, potentially rising to €50 million, pays off as Balogun attempts to make his mark on the Premier League once again.
