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Everton have agreed a contract with Folarin Balogun for four years, with an option for an additional season. The transfer fee will be €45 million plus €5 million in bonuses.

Everton have confirmed they have reached an agreement with Folarin Balogun over his personal contract.

The American forward is set to join the club on a four-year deal, with an option for an extra year — as reported by Fabrizio Romano.

Negotiations between the clubs are also complete, with Everton set to pay €45 million upfront, plus an additional €5 million in bonuses. The agreement includes a future sell-on percentage for the player.

Balogun has already received the green light to travel to England for a medical examination on Tuesday, after which the transfer is expected to be officially completed.