According to Romano, Everton had previously reached an agreement with Monaco for the transfer of Balogun, with a fixed transfer fee of €45 million, plus €5 million in add-ons and a percentage of any subsequent transfer fee. However, the deal has now encountered uncertainty in the final stages, as Balogun apparently failed the medical examination arranged by Everton.

Previously, Balogun was poised to become the second most expensive player in the history of the US men's national soccer team through this deal. According to the agreement, Everton will pay a maximum fee of €50 million, matching Balogun's current market value of €50 million.