The USA international has made the decision to leave the Gunners this summer in the search for regular first-team football.

Inter Milan were initially interested in signing him, but they were put off by the Gunners' £50 million for the marksman.

Monaco have now tabled an offer of £35m for the 22-year-old, but the Gunners are expected to snub the proposal.

They are adamant over the asking price for their graduate and the onus is on Monaco or any other team to meet their demands.

The Ligue 1 outfit are continuing talks with the Gunners and remain optimistic of finding an agreement very soon.

Chelsea have also been credited with an interest in the Gunners ace, but he will most certainly cost a higher fee for them.

Arsenal are reluctant to sell Balogun to a direct league rival unless they receive a significant transfer offer on the table.

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