ARSENAL have reportedly revealed their staggering valuation of Folarin Balogun after Inter Milan entered the race to sign him.
Balogun is expected to leave the Gunners in search of first-team football this summer.
Following a breakthrough season on loan at Stade Reims in Ligue 1, interest is thought to be high in the 21-year-old.
Balogun scored 22 goals in 39 appearances in France and finished fifth in the league's scoring charts.
His form for Reims has caught the eye of several European clubs, with reports in Italy claiming Inter are interested in the forward.
According to Gazzetta Italia, talks have taken place between the club's sporting director Piero Ausilio, agents and Arsenal staff.
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Further discussions have also been scheduled before Ausilio returns to Italy as the Champions League finalists pursue a deal.
Inter are keen to sign a striker this summer, with Edin Dzeko set to leave for Fenerbahce and Romelu Lukaku's loan coming to an end.
However, the report adds that Inter are eyeing a loan move for Balogun, despite Arsenal instead looking to sell him.
Arsenal are keen to boost their transfer budget with the sale of Balogun, who they value at a whopping £40million.
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With two years left on his Arsenal deal, Balogun is after first-team football next season and would not be first choice up front under Mikel Arteta.
Inter's interest in Balogun comes after he made his senior international debut for the USA on Thursday.
Having switched allegiances from England last month, Balogun started the USA's 3-0 CONCACAF Nations League win over Mexico.
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