Chelsea are reportedly interested in signing Arsenal striker Folarin Balogun.

The Blues continued their busy summer of transfer activity on Friday when they unveiled the signing of Romeo Lavia from Southampton in a £58m deal.

Chelsea's are not prepared to stop their lavish spending quite yet, with the Blues expected to turn their attention to the final third.

Despite recruiting Senegal international Nicolas Jackson from Villarreal earlier in the window, Mauricio Pochettino is still light of centre-forward options.

Christopher Nkunku and Armando Broja are currently sidelined, while Romelu Lukaku does not feature in Pochettino's plans and is set to leave before the end of the transfer window.

According to Sky Sports News, Chelsea's search for a new striker has taken them to North London, where they have identified Balogun as a potential target.

While Chelsea have a concrete interest, they are yet to submit a formal bid for the 22-year-old, who is valued at £40m by the Gunners.

The Arsenal forward is expected to leave Mikel Arteta's side this summer despite enjoying a successful loan spell with Reims last term.

Balogun racked up 21 goals in 37 Ligue 1 appearances, and his performances have led to interest from across Europe.

Tottenham Hotspur and West Ham United have all been linked, while Italian giants AC Milan and Inter Milan are believed to be among Balogun's admirers.

However, Monaco appears to be the club that are pushing hardest after submitting a formal £34m earlier this month, which was subsequently rejected by Arsenal.

With the Ligue 1 side determined to sign the USA international, they are expected to return to the negotiating table with an improved bid.

Balogun progressed through the youth ranks at Arsenal, but he has been unable to establish himself in the first-team setup, having scored just two goals in 10 appearances.