AS MONACO have had their £34million bid rejected for Arsenal striker Folarin Balogun, according to reports.
According to RMC Sport, the Gunners value the 22-year-old much higher and appear to have ended the Ligue 1 club's interest in the forward.
Monaco had been keen on the youngster after he scored 21 Ligue 1 goals for Stade Reims while on loan last season.
Balogun's performances also earned him a first call-up from the USA after switching his international allegiance from England.
Balogun's remarkable season made him a key target for the French club, despite him having made just two league appearances for Arsenal and spending an underwhelming time on loan to Middlesbrough last year.
The striker has announced he is open to leaving the Emirates this summer as he feels he has proved he can play at the top level.
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But, Arsenal have slapped a £50m price tag on his head, according to CBS Sport.
The hefty valuation turned Monaco's heads towards alternative option Karl Toko-Ekambi, who plays for Lyon.
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However, the Cameroonian forward has confirmed he is set for a move to Saudi Arabia, forcing the Monegasque club to turn back to Balogun.
The youngster is also interesting a number of Premier League teams.
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Tottenham are one side who are considering a move for Balogun as the club seeks a Harry Kane replacement following his transfer to Bayern Munich.
West Ham are also eyeing up a potential swoop for the striker to reinforce their front line with flop Italian Gianluca Scamacca sizing up a move to Inter Milan, according to TalkSPORT.
The £50m valuation has curbed interest from Inter Milan and their city rivals AC Milan.
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