The summer transfer window is now open in Europe, and there’s plenty of gossip swirling around. Transfer Talk brings you all the latest buzz on rumours, comings, goings and, of course, done deals!

TOP STORY: Monaco close in on Balogun deal

Arsenal striker Folarin Balogun is closing in on a move to AS Monaco, according to RMC Sport, after having their €45 million offer, which includes bonuses, accepted.

The Principality club now hope to persuade the 22-year-old United States international to sign a five-year contract. It’s reported that only the final details remain before the move can be completed.

Balogun was a standout player in Ligue 1 last season, contributing 21 goals and two assists for Stade de Reims in 37 league appearances. Nevertheless, the Gunners have been unable to promise him first-team football in a forward line led by Gabriel Jesus and bolstered by former Chelsea standout Kai Havertz.

The Blues were one of the clubs linked with interest in the New York City-born front man, but the latest indicates that it is Les Monegasques who have surged into the lead in the race for him, with Foot Mercato adding that he has been given permission to undertake his medical.

Balogun joined Arsenal’s academy setup in 2012.

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PAPER GOSSIP

– Al Ettifaq are keen on signing Arsenal winger Nicolas Pépé, writes Ekrem Konur. The Saudi side are in talks with the 28-year-old over a potential four-year contract.

– An agreement is close between Arsenal and Real Sociedad over a loan deal for left-back Kieran Tierney, reports The Athletic. The Gunners have been looking to move on from the 26-year-old Scotland international this month, with Oleksandr Zinchenko first choice in the position, and the LaLiga side are now close to securing a season-long loan for him, which will not include any permanent option clause.

– An offer of £35m would be enough to persuade Bayer Leverkusen to part ways with defender Piero Hincapié, writes CBS Sports’ Ben Jacobs. The 21-year-old centre-back is reported to be keen to make the switch to the Premier League, and would look to force a move if a club from England’s top flight stepped up their pursuit for his signature. He has previously been linked with Liverpool and Tottenham Hotspur.

– Negotiations between Paris Saint-Germain and Lyon regarding winger Bradley Barcola have stalled, according to L’Equipe. While PSG have been looking to move forward with a transfer offer, their Ligue 1 rivals would have preferred a player swap, but the players they have held interest in have already left the Parc des Princes, where the club hierarchy’s optimism over a deal for the 20-year-old isn’t shared by Les Gones.

– Valencia have fallen short in their attempts to land FC Porto forward Toni Martínez, reports Relevo. The Primeira Liga side are reported to see the 26-year-old as a key part of their squad, and would need to find a replacement if they decided to offload him. It is said that he could leave if a Premier League club surfaced for his signature, although they could be required to activate the release clause in his contract for €60m.