According to Fabrizio Romano, Everton have reached an agreement with Ligue 1 side Monaco for the transfer of striker Balogun, 25.
It’s understood that David Moyes’ side will pay a €45m fixed fee with another €5 million in add-ons and a sell on clause for Monaco.
Everton are now looking to agree personal terms with the striker.
Balogun was key for Monaco last season, scoring 19 goals and providing four assists in his 43 games across all competitions.
He carried that fine form into this summer’s World Cup, where he got three goals in his four games before the USA’s elimination at the hands of Belgium in the round of 16.
He was at the heart of some major controversy, however, with FIFA deciding to ‘suspend’ his red card, picked up against Bosnia, following a phone call between Gianni Infantino and Donald Trump.