The New York-born striker, recognised as one of the academy’s top talents, is reportedly stalling on a new contract and wants to leave the club on a free transfer for a new challenge, after failing to break into Mikel Arteta’s first team.
Balogun moved to England at the age of two and his family settled in London.
He played in Sunday league football for Aldersbrook in Essex, and even had a trial with Tottenham.
But he decided to join Arsenal when he was 10 and rose through the ranks with the Gunners.
Simply put, he is a goalscoring machine, who has struck 10 goals in 15 Premier League games in Premier League 2 for Arsenal’s Under-23s.
Such a prolific record would, naturally, see some Emirates fans comparing the speedy striker to their first-team superstar Pierre-Emerick Aubameyang.
And they wouldn’t be the only ones.
“I am the sort of striker that likes to play on the shoulder of the last defender and make runs behind them, similar to the way that Pierre-Emerick Aubameyang plays,” Balogun told Arsenal.com.
Aubameyang has given the star his backing, too.
Last season’s joint top-scorer in the Premier League responded to a profile of Balogun by saying: “This young boy is [fire emoji]”.
Arteta has a deep chest of young jewels to choose from over the next few years.
Freddie Ljungberg, assistant coach and former head of academy, knows full well the extent of talent in Arsenal’s youth ranks.
He has helped progress and promote, with Eddie Nketiah and Joe Willock starring in the first team in the past few seasons.
But Balogun has seen his path into the first team blocked by the likes of Aubameyang, Lacazette, and now Nketiah, who has been getting a run of games under Arteta.
“I do a lot of work in training trying to improve and develop different ways of finishing so that when the chance comes, I’m ready to use whichever option is best,” Balogun said.
“It also helps to keep defenders guessing. As the standard of the teams in which you play rises, you get less and less time and fewer opportunities on the ball.
“This is what drives me to be as efficient as possible in front of goal.”
While Balogun waits for his opportunity at club level, he has a choice to make of his own when it comes to the national team.
He has already represented England at youth level, in the 2018 European Championships, but has two other options.
“I was born in New York, so can play for the USA,” he said.
“My parents were born in Nigeria and I have been in England since I was two years old, so I can play for both those countries too!