Everton are not expected to renew their interest in Folarin Balogun during the January transfer window, despite AS Monaco indicating the striker could be available.
A proposed £40M move from AS Monaco to Merseyside collapsed at the last minute after Balogun withdrew from negotiations. Sources close to the USMNT international said he had concerns about the way Everton handled his medical and the wider contract discussions.
The former Arsenal attacker reportedly did not feel comfortable continuing with the transfer, bringing an abrupt end to the deal.
AS Monaco have since suggested they would be willing to sell Balogun in January, while the player is understood to be open to leaving France. However, he is not expected to join David Moyes' Everton side.
According to the latest information from Football Insider, Everton have ruled out making a renewed offer for the striker. The club's budget cuts could leave Moyes having to consider a loan signing instead.
That would be a less expensive solution as Everton continue to rely heavily on Thierno Barry in attack.
Dion Beljo has been identified as a potential alternative. The Dinamo Zagreb forward scored 38 goals in his first season at the club in 2025/26, but a permanent deal could cost more than £35M.