Folarin Balogun, a striker for Arsenal, is now in Monaco for a transfer medical.
A package worth £38.5 million has been agreed upon between the two parties for the US international.
Balogun is returning to Ligue 1, where he played on loan for Reims last year.
With 21 goals, he was fifth in the French Golden Boot voting.
After Balogun’s attempt to disrupt Mikel Arteta’s intentions failed, he decided to leave Arsenal.
Spurs and the Blues were also said to be interested in the 22-year-old.