Arsenal boss Arteta could receive welcome £50m after Chelsea transfer U-turn

Arsenal could be set for a £50million windfall after Inter Milan pulled out of the running for Romelu Lukaku. The Italian side have decided against re-signing the Chelsea striker and are now reportedly set to up their interest in Gunners ace Folarin Balogun.

Lukaku had looked set to make a permanent return to Inter after spending last season on loan at the San Siro. The Belgium international was keen on a move back to the club after helping them reach the Champions League final in June.

Chelsea are keen to sell Lukaku as soon as possible, with the £97.5m man not in the plans of Mauricio Pochettino. However, it was reported by GianlucaDiMarzio.com on Saturday that Inter had stepped back from a move after Lukaku had failed to answer their phone calls.

Inter want to sign a striker and are now looking at alternatives to the 30-year-old. And that could help Arsenal raise £50m from the sale of Balogun.

Fabrizio Romano reports that Inter will ask Arsenal for the ‘final conditions’ of a potential deal for Balogun early next week. It is claimed the 22-year-old is one player on a shortlist of strikers Inter are interested in.

Balogun caught the eye of teams across Europe with his performance on loan at Reims last season. He scored 22 goals in all competitions for the French side, his first full campaign as a first-team regular in his career.

The forward, who recently chose to represent USA at international level, still has two years remaining on his Arsenal contract. Arsenal are not desperate to sell but Balogun has made it clear he wants to be a regular again next season, even if it means leaving the Emirates.

The Gunners won’t let him go cheaply, with £50m widely reported as his price tag. Arsenal have already spent over £200m on new signings this summer so bringing in a sizable fee for Balogun could be welcome.

Balogun came off the bench in the 1-1 friendly draw against FC Nurnberg on Wednesday. After the match, Mikel Arteta was unable to provide much of an update on his future.