The transfer's collapse is a significant blow to Everton, who were in dire need of bolstering their frontline. The Toffees have not qualified for European competition since the 2016-17 season and are currently predicted to finish 15th in the Premier League this season. Everton's manager, David Moyes, is part of the club's DNA, but the team's recent performances have been underwhelming.
Monaco, on the other hand, can still offer Balogun European competition, albeit in the UEFA Conference League this season. The club's financial struggles, however, mean that they need to move Balogun on to help their finances. Balogun will face intense competition for his place in the lineup when he returns to Monaco, with 20-year-old Paris Brunner emerging as a major threat.
The collapse of the transfer deal leaves both Monaco and Everton in a difficult position. Monaco are left with both Balogun and midfielder Lamine Camara, while Everton are without a central striker, with Thierno Barry being the only option. The club's attempts to acquire Tammy Abraham from Aston Villa and Joshua Zirkzee on loan were also unsuccessful.