The United States international is reportedly keen on a move to Goodison Park, with manager David Moyes identifying him as a priority target to strengthen his attack.
According to Belgian journalist Sacha Tavolieri, the Toffees have submitted an €18m proposal to Monaco and are pushing to secure the forward’s signature.
Everton are working with increased urgency to complete the deal before the deadline, with Balogun now emerging as a key recruitment target.
The 25-year-old has previously been linked with Tottenham Hotspur, but their recent attacking additions appear to have reduced the likelihood of a move to North London.
