Arsenal are not willing to sell Folarin Balogun for less than £8m this summer, according to a report.

The up-and-coming striker is out of contract at the Emirates at the end of next season, and Balogun is believed to be seeking pastures new after refusing to put pen to paper on a new deal.

Gunners manager Mikel Arteta announced his desire to keep Balogun on the books in North London, but the forward is supposedly looking for a move elsewhere amid concerns over a lack of game time in the Arsenal first team.

According to Sky Sports News, the Gunners are happy to let Balogun advance his career elsewhere, but it would take a bid of £8m for Arsenal to part ways with the 19-year-old - a fee which is considered to be high.

Balogun registered 10 goals and four assists in the 2019-20 Premier League 2 and has been strongly linked with a move to Brentford, who will take on Fulham in the Championship playoff final on Tuesday.