Daily Mail UK has revealed that Sheffield United offered £3 million plus add-ons for the 19 year-old, but the Gunners are reportedly holding out for a deal worth in the region of £15m, comprising an initial fee for the prolific frontman with further bonuses.  

It is unlikely the Blades hierarchy will sanction their valuation for the player, considering that the striker who is embroiled in a contract stand-off with Arsenal is in the final year of his current deal and can leave on a free next season.

Sheffield United are understandably looking for firepower upfront, having fired blanks in the defeat to Wolves last Monday.

Regarded as one of the best attacking players to graduate from Hale End, Balogun has also attracted transfer interest from Southampton, Brighton, AC Milan and Brentford who saw a £5 million bid for the England U-19 international in January turned down.