Folarin Balogun is set to sign for Monaco, after they agreed a €45m fee excluding bonuses with Arsenal for the striker, RMC reports.
The 22-year-old makes a return to Ligue 1, where he scored 22 goals while on loan at Reims last season.
Balogun will put pen to paper on a five-year deal with the current league leaders.
There are still a few details left to iron out, but the bulk of the agreement is now in place.
Monaco had seen their opening proposal turned down by Arsenal, who were said to be asking for €50m.
The likes of Inter, West Ham, and Lens were reportedly also in the race to sign Balogun.