Serie A giants Inter Milan are reportedly preparing an opening bid to sign Arsenal striker Folarin Balogun.
The Nerazzurri were recently interested in re-signing Chelsea star Romelu Lukaku on a permanent basis.
However, their interest has now ended after the Belgian reportedly made contact with Juventus over a move.
Balogun is now the main target for the Nerazzurri, and reports claim that they are ready to pay £34m for him.
The Nerazzurri are weighing up a formal offer to the Gunners, but it is unclear whether the fee will be enough.Arsenal currently value their striker in the region of £45-50m and could remain firm on the transfer figure.
The London giants are anticipating plenty of interest in him during the back end of the summer transfer window.
AC Milan, Borussia Dortmund and Monaco are among clubs that are keeping a close eye on his proceedings.
Balogun is currently with Arsenal in the United States, but is widely expected to leave in the coming weeks.