Three clubs have reportedly emerged as serious contenders to sign Arsenal youngster Folarin Balogun.

The highly-rated forward is yet to pen an extension on his existing Gunners deal - which expires in six months' time - and he is expected to move on in the summer.

Balogun finds himself behind Alexandre Lacazette and Eddie Nketiah in the Gunners' pecking order, but he has reportedly attracted the attention of as many as 15 clubs despite his lack of game time.

According to The Guardian, the race to secure the teenager's signature has now narrowed down to three clubs, but the Arsenal hierarchy are still holding out hope that he will commit his future to the North London outfit.

Manager Mikel Arteta has spoken highly of Balogun in recent weeks, but he is yet to start a game for the Gunners despite impressing as a substitute in the Europa League.

As well as Balogun, the report claims that 18-year-old Kido Taylor-Hart - who has taken part in first-team training sessions recently - could also head for the exit door if he does not sign his first professional contract before June.