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

Balogun is up for sale at Arsenal and interesting Chelsea and Inter Milan.

However, Sky Sports' Dharmesh Sheth is reporting Balogun has agreed to join AS Monaco: "Monaco close to verbal agreement on fee with Arsenal for striker Folarin Balogun.

"Formal offer to follow ahead of discussing payment terms. Personal terms agreed in principle. Balogun impressed in Ligue Un on loan with Reims last season. 21 goals in 34 starts."

Monaco had a £35m offer for Balogun rejected a fortnight ago, with Arsenal demanding £50m to sell.