The financial details were not disclosed, but British media reported that the deal was worth around 40 million euros.

Balogun joined Arsenal at the age of eight but made only 10 appearances for the north London outfit before moving on loan to Championship side Middlesbrough and Ligue 1 club Reims in January and August 2022, respectively.

He had a breakout season at Reims, scoring 22 goals in 39 appearances across all competitions. Balogun was linked with a move to several European clubs before deciding on Monaco as his next destination.

Balogun, who was born in Brooklyn, New York but raised in England, switched his international allegiance from England to the United States in May.