The America international enjoyed a reputation-enhancing spell on loan at Reims last season, scoring 21 goals in Ligue 1 during a prolific campaign.
Balogun returned to north London in the summer hoping to force his way into Arteta’s first team plans but after failing to make an impact in pre-season the writing was on the wall.
Several Premier League and Serie A clubs registered an interest in the 22-year-old but he eventually settled on a return to France after Monaco a £35million deal that includes a 17.5% sell-on clause.
Asked why he felt minded to let a striker with such an impressive goals record depart, Arteta said: ‘We didn’t have space for him now in the squad to give him the minutes that he needs.
‘He did really well last year in his loan period. He’s evolved in the right way and he wanted the chance to continue developing his career.
‘He’s going to a great club that has huge experience in developing young talent as everybody knows, so I’m really happy for him as well.’
Balogun’s path into the first team at Arsenal was partly blocked by fellow Hale End Academy graduate who on Thursday was able to celebrate his first call-up to the senior England squad.
‘So pleased. If someone deserves it in this squad, that’s him as well,’ said Arteta ahead of Sunday’s showdown against Manchester United.
‘An academy player that had some moments when his pathway wasn’t very clear and he had to fight it through and I just love his mentality.’
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