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Why We Sold Folarin Balogun to Monaco for €40 Million – Arteta

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Mikel Arteta, the manager of Arsenal, has shed light on the rationale behind Arsenal’s decision to greenlight a €40 million (£34m/m) transfer deal with Monaco for the talented USMNT star, Folarin Balogun.

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After delivering a remarkable performance during a loan stint at Ligue 1’s Reims last season, the United States international is set to return to France to further his development in the 2023-24 season. The 22-year-old striker had been vocal about his desire for consistent playing time.

In light of Arsenal’s existing roster, which includes Gabriel Jesus and Eddie Nketiah, they found accommodating Balogun in their squad challenging. Consequently, they have secured a substantial profit on their homegrown talent and included a sell-on clause in their agreement with Monaco, ensuring a mutually advantageous outcome.

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Read also: Arsenal vs Man United: Premier League Showdown – All You Need To Know.

Arteta addressed reporters’ queries about Arsenal’s decision to let Balogun go, stating, “We didn’t have enough space for him in our squad for him to get the minutes that he needs. He did really well last year in his loan period and he’s evolving in the right way. He wanted the chance to continue developing his career. He’s going to a really good club, they have huge experience in developing talent – as everybody knows – so really happy for him.”

Balogun did have a brief stint with Arsenal in the preseason following his involvement in the USMNT’s CONCACAF Nations League triumph. He is now determined to demonstrate in North London that he has the potential to become a prominent forward after securing a permanent move.

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