Everton submit formal Folarin Balogun bid as Monaco hold out for £40m

Everton have made a formal move for Folarin Balogun as they attempt to reshape their attack before the transfer deadline, but a substantial gap remains between their opening proposal and Monaco’s valuation of the United States striker.

The Merseyside club have submitted an offer for the 25-year-old, according to Fabrizio Romano, after accelerating negotiations with Monaco as Beto closes in on a move to Fiorentina.

Separate reporting from Sacha Tavolieri has placed Everton’s proposal at €18 million, while BBC Sport understands Monaco are seeking around £40 million for Balogun.

That difference means the deal is active rather than advanced towards completion.

Everton have established their interest, the player is understood to be receptive to returning to the Premier League and Monaco are open to discussing his future, but the two clubs still need to bridge a significant valuation gap before a transfer can be completed.

Balogun’s situation has developed rapidly in the closing stages of the window.

The former Arsenal striker has not featured for Monaco in Ligue 1 this season after playing through the World Cup with a minor injury, but he was present at the Stade Louis II on Sunday as Filipe Luís’ side beat Marseille 2-0.

His absence from the team has coincided with the emergence of Paris Brunner, who scored both goals against Marseille and has strengthened Monaco’s attacking options at a moment when Balogun’s future is being negotiated.

A departure would nevertheless involve one of Monaco’s most productive players from last season.

Balogun scored 13 goals in 30 Ligue 1 appearances in 2025-26 and was named Monaco’s player of the year, restoring momentum to his career after a more uneven start following his move from Arsenal in 2023.

Everton’s pursuit is directly connected to movement elsewhere in their forward line.

The Guardian reports that the club have accepted an offer of around £15 million from Fiorentina for Beto, who is due to undergo a medical ahead of a return to Serie A.

Balogun is being targeted as a potential replacement rather than simply an additional attacking option.

The profile would also represent a clear change.

Beto has provided Everton with size, physical presence and a direct focal point, while Balogun offers greater mobility across the front line and is more comfortable attacking space beyond a defensive line.

His familiarity with English football adds another layer to Everton’s interest. Born in New York but raised in London, Balogun developed in Arsenal’s academy and made 10 senior appearances for the club before loan spells at Middlesbrough and Reims preceded his permanent move to Monaco.

The Reims spell remains an important reference point in his career after he scored 21 Ligue 1 goals in 2022-23.

Everton now face a deadline negotiation in which the player’s position appears less complicated than Monaco’s asking price.

Balogun is reported to favour a Premier League return and has been linked with several English clubs during the summer, but Everton are the side to have turned that interest into a concrete offer.

For Monaco, there is little incentive to accept substantially below their valuation simply because the window is closing. Balogun remains under contract and his performances last season strengthened his market value.

For Everton, Beto’s impending departure increases the pressure to reach a solution.

The significant development is therefore not that Balogun is close to becoming an Everton player.

It is that Everton have now moved from interest to a formal bid, while Monaco’s £40 million valuation establishes the negotiating distance that must be closed before the United States international can return to the Premier League.