Arsenal due millions from Folarin Balogun transfer to Everton, will break record

Folarin Balogun is closing in on his headline move to Everton.

With the deadline quickly approaching at 11pm, the Toffees are set to be one of the busiest clubs around.

Everton have agreed a total package worth £38.5million plus add-ons to sign Balogun from AS Monaco, in one of many deals ongoing.

Jack Grealish will also sign on loan against from Manchester City, with David Moyes finally being backed by the Friedkins.

Despite all of this going on at Everton, it's Premier League champions Arsenal who will be keeping a very close eye on them.

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How much are Arsenal owed in Folarin Balogun transfer?

Having only made a couple of Premier League appearances with the Gunners, Balogun has thrived elsewhere.

Scoring regularly in France with Monaco, as well as lighting up the World Cup with the USMNT, he's destined for England again.

And it's Everton who will win the race.

Charles Watts now reports that Arsenal have a 17.5 per cent sell-on clause, meaning £6.7m will be heading their way if the £38.5m fee is accurate.

The award-winning Sunday Times author and Hayters journalist states that it would make him the record Arsenal sale in terms of total figures.

That is until Gabriel Martinelli joins Al-Hilal later on Tuesday, as expected.

The figures around Balogun transfer

Everton will pay an initial £38.5m fee, but there will be add-ons on top of that as well.

They will equate to a further £4.2m, with the Friedkins splashing the cash for the American star to join them on Merseyside.

Arsenal's current record sale is still somehow Alex Oxlade-Chamberlain for £35m, which was back in 2017.

Balogun was sold to Monaco for just below that, but these future add-ons will take him just above the Ox.

Martinelli will later be sold for just above £55m, with Arsenal bringing money in after another busy summer.

As for Everton, with Balogun and Grealish coming in for big money, it's finally a statement of intent from them.

Hopefully, it pays off.