“We bought him for £0M and sold him out for a shocking fee of more than £30M, it is one of the best transfers in the history of Arsenal”- Arsenal Sporting Director confirmed Arsenal have hit the jackpot by selling “quality” £35M star
Arsenal: Arteta struck gold by selling “quality” £35m star
Arsenal cashed in on some talent this summer to welcome new faces, with one transfer talked about for the entirety of the window
Arsenal had a busy summer in the transfer window, as Mikel Arteta and Edu welcomed four new faces to north London in order to bolster the title-challenging side of 2022/23.
The Gunners spent over £200m to acquire the signatures of Jurrien Timber, Declan Rice and Kai Havertz, as well as bringing in David Raya on an initial loan from Brentford.
While the incomings seem to have worked for the club, who remain unbeaten in the Premier League, business regarding players that departed the Emirates has also prevailed as successful, with one name making a profitable exit.
Hale End graduate Folarin Balogun was sold to Ligue 1 outfit Monaco for a reported £35m, handing his boyhood club a £35m profit due to his rise through the ranks of the academy.
Why did Arsenal sell Folarin Balogun?
It’s not every day that a club cashes in on an academy graduate that has succeeded on loan, however for Balogun and Arsenal, the time seemed right for the United States international to depart.
After spending the 2022/23 campaign on loan at Reims, the striker caught the eye of a number of clubs in the summer, following his 21 goals in Ligue 1 during his season away from north London.
On his return, it became apparent that the American would not be handed an automatic push up the rankings due to his performances in France, with the likes of Gabriel Jesus and Eddie Nketiah favoured above him.
It was clear that Balogun didn’t wish to obtain a sporadic role at Arsenal, leaving an exit the best route for the player, and an even better outcome for the Gunners who received £35m for his services.
What is Folarin Balogun doing now?
While the talent of the 22-year-old is unquestionable, with him once lauded as “quality” by U23 scout Antonio Mango, the forward has seen his value dip following his heroics of 2022/23, suggesting that Arsenal struck gold by selling him.
As per Football Transfers, the New York-born ace’s expected transfer value (xTV) has gone from a high of €23.6m (£20.4m) in May 2023, to €20.6m (£17.8m) where it sits currently, identifying a decline in value.
Despite starting life back in France well at Monaco, highlighted by his three goals in five Ligue 1 games, the forward’s xTV has taken a dip, however as nothing is predictable in football, it could rise once more if his form continues.
Taking into consideration Balogun’s form prior to his first experience in France, it makes sense as to why Edu and Arteta opted to run with the £35m from Monaco for his signature.
With just three goals in 18 Championship appearances for Middlesbrough in 2021/22 and two goals in ten for Arsenal across his total senior appearances for the Gunners, there was little indication whether the 22-year-old could achieve such heights back in England.
While there was certainly room for exploration into just how far his talents could span in the Premier League and beyond in north London, Arteta couldn’t warrant the former academy star a promised starting spot, and with no guarantee that his form could be translated, a price of £35m may not have circulated again.
Having scored 16 goals in their opening eight league games, Arsenal aren’t short of goals, portraying once more that the Gunners were right to collect the profit from Monaco to ship Balogun back off to France.