Everton have agreed a deal to sign Folarin Balogun from Monaco, with the American striker set to travel to Liverpool to complete his medical.
Fabrizio Romano confirmed the agreement, with Everton and Monaco settling on a fee of €45 million plus €5 million in potential add-ons.
Monaco have also secured a sell-on clause as part of the arrangement, giving the Ligue 1 club a future financial stake in any subsequent Balogun transfer.
The former Arsenal forward will sign a four-year contract at the Hill Dickinson Stadium, with the option to extend by a further year also included in the deal.
TEAMtalk had revealed earlier that Everton were deep in talks with Monaco and that an initial bid had been knocked back before negotiations resumed successfully.
Balogun’s departure from the Stade Louis II has been made easier by Monaco’s move to bring in Matthis Abline from Nantes, helping to balance their squad numbers.
The French club also needed to create room for another non-EU player within their roster, which further smoothed Balogun’s path to an exit this window.
Everton’s pursuit of a striker became increasingly urgent after Beto departed for Fiorentina, with the Italian club paying €17 million to secure his signature.
Beto’s exit left manager David Moyes with only Thierno Barry as a specialist striker, making the addition of Balogun a priority before the window closed.
Balogun impressed at the summer World Cup with the United States, scoring three goals in four matches to emerge as one of the tournament’s standout attackers.
He also delivered consistently for Monaco last season, registering 13 goals and three assists in 30 appearances to underline his quality at club level.
USMNT teammate Mark McKenzie has described Balogun as “very versatile” and “a clinical finisher,” while Christian Pulisic has labelled him a “killer” in front of goal.
Balogun’s prior experience in English football and his physical attributes make him well suited to the demands of the Premier League, according to those who know him well.