Arsenal striker Folarin Balogun has agreed personal term with AS Monaco.

RMC says Balogun has held talks with ASM and settled on a contract with the Principality club.

The striker spent a record-breaking season in France last term on-loan with Reims.

Monaco had an offer of €40m for Balogun rejected earlier this week, with Arsenal demanding €60m to sell. However, the French giants intend to return with an improved offer in the coming days.

Inter Milan are also interested in the USA international.