Everton are negotiating with Monaco over Folarin Balogun, although the eventual cost of bringing the striker to Merseyside could be more than twice their opening offer.
The Toffees have submitted an €18m proposal for the United States international, who is understood to want the move and has reportedly agreed terms with Everton.
Monaco are now at the table.
Sacha Tavolieri reports that the Ligue 1 club have acknowledged Balogun’s desire to join Everton and talks are taking place over a permanent transfer.
The same report claims Monaco could eventually receive more than €40m plus add-ons if the two clubs reach an agreement.
That leaves a sizeable difference between Everton’s opening position and the figure being discussed in France.
Everton now know what Balogun could cost
TalkSPORT has also reported that Everton are in advanced negotiations for the 25-year-old, although its information puts Monaco’s asking price at around £40m.
Balogun comes into the talks after his best season since joining Monaco from Arsenal.
He scored 13 goals and provided four assists in 30 Ligue 1 appearances last season, with Monaco supporters subsequently voting him their player of the season.
Everton’s move also comes as Beto closes in on a departure, with Fiorentina pushing to take the Portuguese striker back to Serie A.
The two clubs remain some distance apart on Balogun if the reported figures are accurate.
But the situation has moved on from Everton simply making an offer.
Monaco are negotiating, and Balogun wants the move. Now comes the difficult bit: finding a price both clubs can live with.
For updates on the Toffees throughout the season, take a look at our LIVE! Premier League 2026/27 News, Transfers, Updates & Viral Moments page.
Everton agree £15.4m Beto exit as striker heads for medical
Everton agree £15.4m Beto exit as striker heads for medical
Richarlison decision could decide Iliman Ndiaye’s Everton future
Richarlison decision could decide Iliman Ndiaye’s Everton future