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Arsenal are waiting for a fresh transfer proposal from Monaco for Folarin Balogun, according to RMC Sport.
The Ligue 1 giants recently failed with an opening offer of €40m for the USA international, and they are now preparing a renewed bid.
Arsenal currently value their graduate at around €55m, but it is anticipated that a deal could be struck for around €47m with add-ons.
Should Balogun head for the exit door, the Gunners could utilise the funds for the purchase of a right-winger to support Bukayo Saka.
Ajax star Mohammed Kudus is currently on their radar. Brighton recently finalised a transfer fee, but could not agree personal terms.
Hence, the door is wide open for the Gunners to join the pursuit of the Ghanaian, who can play up front as well as on the right wing.
The 23-year-old can also operate from the defensive and central midfield roles. He could be signed from the Dutch outfit for a fee of around €40m.
