"Developing fast" - Sky Sports reporter drops big Arsenal update out of the Emirates

Arsenal could generate plenty of cash with the sale of Folarin Balogun this summer and Sky Sports reporter Dharmesh Sheth has indicated how close a deal is to happening.

Balogun has been courted by some of Europe's biggest clubs this summer, but it appears a decision on his future will be made in the coming days.

Arsenal transfer news - Folarin Balogun

It's been a busy window at the Emirates Stadium, with Mikel Arteta's side having splashed the cash on a number of first-team additions. Declan Rice, David Raya, Kai Havertz and Jurrien Timber have all been signed for a combined fee that exceeds the £200 million mark, as Arteta and Co. look to close the gap to the current champions Manchester City.

However, as a result of their hefty spending, there are suggestions that Arsenal must shift some unwanted talent off their wage book, with Balogun one of a number of players tipped to leave before next month's deadline.

Reports from France claim that Monaco are closing in on a deal for Balogun, who shone in Ligue 1 on loan from Arsenal last season. It comes after the Monegasque outfit saw an offer rejected earlier in the window, with Arsenal unmoved by Monaco's £30 million proposal.

Despite this, there is still an expectation that Balogun will be moved on before September 1st, which in turn could generate a wad of much-needed cash for the Premier League hopefuls.

Arsenal signings summer 2023

Fee

David Raya (Brentford)

Loan

Kai Haverz (Chelsea)

£65m

Declan Rice (West Ham)

£105m

Jurrien Timber (Ajax)

£38m

All transfer fees via Sky SportsWhat has Dharmesh Sheth said about Folarin Balogun and Arsenal?

When asked about where Balogun's future lies, Sky Sports reporter Sheth admitted it would likely come away from the Emirates Stadium, with the striker edging towards the exit door.

On the USMNT international, Sheth said: "I think the one that would bring the most money in is Balogun, and that one is developing fast.

"Monaco had a bid rejected, but they are still in talks with Arsenal. They hadn't gone back with an improved offer immediately, because what I think what they were doing is just discussing with the club to get a broad agreement on a fee first of all, before then finalising structure and payment terms.

"Because I think that will be the most straightforward part. They just need to get the actual broad agreement on a fee over the line."