Inter Milan planning to use Andre Onana funds to sign Arsenal striker Folarin Balogun

Inter Milan are planning to use funds from the sale of Andre Onana to Manchester United to sign Arsenal striker Folarin Balogun.

United are in advanced negotiations to sign Inter goalkeeper Onana, with the deal close to completion.

The Daily Mail claim United have agreed to pay a fee of around £43m for the Cameroon international, including add-ons.

Onana is expected to sign a five-year deal at Old Trafford.

Transfer expert Fabrizio Romano claims the deal is close and that Onana could join United on their pre-season tour of the United States, with the squad travelling later this week after their warm-up match against Lyon in Edinburgh.

"Andre Onana to Manchester United, it’s finally here we go! Clubs are closing in on the agreement then Onana will travel for medical tests and contract signing," Romano tweeted on Sunday.

"Man Utd set to request VISA for Onana for USA trip. Ten Hag will have the new goalkeeper he wanted."

Inter plotting move for Balogun

Inter are already planning how to spend the funds from the sale of Onana and have set their sights on Arsenal striker Balogun.

The United States international impressed on loan at Reims last season, scoring 22 goals in 39 games.

But with Gabriel Jesus and Eddie Nketiah seemingly ahead of him in the pecking order at Arsenal, Balogun could be sold this summer.

The Evening Standard claim Inter have made Balogun their No 1 transfer target.

There is a difference in valuation of the player between the two clubs, with Inter unwilling to meet Arsenal's £50m asking price for the striker.

However, it is claimed that the Italian club 'could insert a buyback clause or offer a favourable percentage of any future sale to help drive down cost'.

Inter's interest in Balogun follows their decision to walk away from talks to re-sign Romelu Lukaku from Chelsea.

Lukaku spent last season on loan at the Champions League finalists, but Inter withdrew a £34m offer to bring him back to San Siro after it was revealed the striker was simultaneously negotiating with rivals Juventus.

While Inter have turned their attention to Balogun, Arsenal won't allow the striker to leave for cheap.

Mikel Arteta is said to rate Balogun highly and has taken the striker on the club's pre-season tour of the United States.

But Balogun has previously stated that he "definitely won't go on loan again" and could force a move away from Arsenal if he feels a first-team spot is out of reach at the Emirates this season.