Monaco are close to a verbal agreement on a fee for Arsenal striker Folarin Balogun.
The Ligue 1 side are then expected to make a formal offer ahead of discussing the structure of the deal and payment terms.
Arsenal have stood firm on their £50m valuation.
Personal terms are not expected to be a problem and Balogun is open to the move having impressed in Ligue 1 on loan with Reims last season.
He scored 21 league goals in 34 starts.