Arsenal have rejected a bid from AS Monaco for USA international Folarin Balogun.

The Gunners turned down the approach from the Ligue 1 side, which was worth a reported $36 million. It is believed that the Premier League side is looking for a fee in the region of $43 million.

AS Monaco face competition in race for Folarin Balogun

AS Monaco aren’t the only club in the race for the American international, as Inter Milan also have a long-standing interest in the 22-year-old.

However, neither of the interested clubs have yet met the valuation set by the Gunners.

According to 90min, Monaco are set to make another bid for the striker, while Inter Milan are also weighing up their options.

The 22-year-old striker enjoyed a breakthrough campaign in Ligue 1 last season, as he scored 21 goals in 37 matches during a loan spell with Reims.

He was also rewarded with a first call-up to the USA national side, and he scored in the nation’s win over Canada in the National League final in June.