Arsenal are weighing up whether to allow one of their brightest young talents to leave the club in the final days of the summer transfer window.
The Gunners have made a promising start to the new season, having narrowly beaten Nottingham Forest and Crystal Palace in their opening two Premier League matches.
The north London club has spent more than £200m this summer bringing Kai Havertz, Jurrien Timber and Declan Rice to the Emirates, with goalkeeper David Raya also joining on a loan deal which is expected to become permanent.
Arsenal could be forced to seek further reinforcements, however, following an injury to Timber, who is set to miss the majority of the season after suffering an ACL injury in his debut for the club.
To fund a potential replacement for Timber, Arsenal may need to sell players.
One player who could be sold is striker Folarin Balogun, who impressed last season on loan at French club Reims.The 22-year-old scored 20 goals in 36 Ligue 1 appearances but is yet to make an appearance for Arsenal this term after returning to the Emirates, with Eddie Nketiah and the injured Gabriel Jesus ahead of him the pecking order.
Chelsea are reportedly interested in the striker, who still has two years left on his deal at Arsenal.
According to the Evening Standard, Arsenal are aware of Chelsea's interest and are seeking around £50m for the striker, who is said to be open to moving to Stamford Bridge.
But it has been claimed elsewhere that a move abroad is more likely for the United States international.
Writing on GiveMeSport, journalist Dean Jones claimed Monaco are now favourites to sign Balogun.
"He should be viewed as one of the hottest properties on the market right now," wrote Jones."A player that can get into golden positions, is not afraid to have a shot at goal, and always is hungry to score goals. If he finds the right club it could redefine how that club's season goes – but finding the right club is absolutely the key.
"He's being linked to Chelsea but that isn't great for him from my viewpoint.
"I can see why they would be interested and I can see why he might be lighting up boxes that they want met, yet where does he actually fit?
"They are not going to give up on Nicolas Jackson yet. And I don’t know if this is the sort of competition that forces either to actually up their game.
"A couple of other English clubs are linked too. But at the moment no one has come forward with an offer. And there is a strong feeling that Monaco is his most likely landing spot. Which would be a bit of a surprise in my eyes."
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