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Folarin Balogun holds the key to €20m Arsenal transfer

Updated: 8 Aug 2026 08:46 BST |
3 min read

Folarin Balogun, Arsenal, 2026/27
© IMAGO
Robin Bairner

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Arsenal are leaning on former academy striker Folarin Balogun in order to get their next major deal of the transfer window over the line.

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Mikel Arteta’s side are seeking attacking reinforcements before the close of the window at the beginning of September and notably probed for Real Madrid forward Vinicius Junior unsuccessfully.

But it may well be that the Gunners have to make room in Arteta’s squad for any incoming faces, and Balogun holds the key for the Premier League champions to complete a €20 million deal that will allow them to do just that.

Balogun leads complicated Arsenal transfer domino

Balogun is at the beginning of an extended transfer domino amid rumours that he could leave Monaco for the Premier League.

Tottenham are studying the possibility of signing the former Arsenal academy player in a deal worth an estimated €50 million, and this is forecast to trigger two more transfers.

Firstly, Monaco would need a centre-forward to replace Balogun. The Ligue 1 side are seriously interested in signing Romelu Lukaku from Napoli. With the Serie A club reportedly willing to part with the ex-Manchester United and Chelsea veteran for around €10 million, the attraction of the Belgian striker is clear.

In turn, this would clear space at Massimiliano Allegri’s side to complete a swoop for Gabriel Jesus, which Sky Sport Italia now reports the Italian side are interested in.

Gabriel Jesus’s Arsenal future in doubt as Napoli swoop

Napoli are willing to pay around €20 million to secure Gabriel Jesus, who has spent much of the last 18 months battling back after serious injury.

Over this time, he has lost his status as an indisputable starter under Arteta and has seen his Estimated Transfer Value (ETV) tumble to just €17.3m – a career-low figure for the 29-year-old.

Reports from Italy point out that Allegri and Gabriel Jesus share the same agent, Giovanni Branchini, who was spotted at Napoli’s pre-season training camp this week.

The 2025 Serie A champions are said to be lining up talks with Arsenal over a deal, though it hinges on Lukaku or Lorenzo Lucca leaving the club.

Arsenal eye fresh blood

Arteta will likely be willing to do a deal over Gabriel Jesus. The forward only has a year left on his contract, while he started only three Premier League games last season following his return from ACL injury.

With Viktor Gyokeres and Kai Havertz both capable at centre-forward, Jesus’s days at the Emirates look numbered, particularly since Arsenal appear eager to inject new blood into their forward line before the end of the transfer window. The failed move for Vini Jr shows the calibre of player they are willing to chase.

Having Jesus’ wages off their books and an additional €20m in their bank balance would certainly provide an excellent platform for Arteta to strike a deal.

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