The potential arrival of Balogun and the pursuit of Grealish have raised questions about other potential targets, most notably former fan favourite Richarlison.
While the Brazilian has dropped emotional hints on social media regarding a return to Merseyside, the financial scale of the Balogun deal suggests that Everton may have already committed their primary resources.
Should the Balogun deal be completed without a hitch, it would mark a significant victory for Everton in a window that has been defined by late drama. The striker, who remains a focal point for the United States national team, will be expected to arrive for a medical shortly after personal terms are ratified.