The Gunners have made good progress since manager Mikel Arteta took over in 2019. They finished eighth in his first full league season in charge and just missed out on the top four during the 2021/22 campaign.
The north London giants exceeded expectations to finish second behind Manchester City last term. They were in pole position to lift the Premier League title for almost eight months, but dropped off at the end.
Despite this, the club are moving in the right direction under Arteta and, as of today, are the most valuable team at €1.21 billion, leapfrogging the Cityzens (€1.19bn).
The €231m transfer spending this summer has put them above the Cityzens, but there has also been a significant rise in the valuation of several players within the first-team squad.
Bukayo Saka did not cost a single transfer penny graduating from the academy. The 21-year-old has gone from strength to strength, and he is now valued at a staggering €120m.
Meanwhile, Gabriel Martinelli was signed for only €7m from Ituano four years ago. The Brazilian is now priced at €80m by Transfermarkt, only €10m less than new signing Declan Rice.
Martin Odegaard is another player that has seen his stock value grow over the past few years. After his best-ever season at Arsenal, the club captain is currently valued at €90m.
Having the most valuable squad means nothing without trophies. This should be the next point of focus for Arteta, who has one of the most exciting young squads in world football.
The Gunners currently have one of the youngest Premier League squads with an average age of 25. This could go lower with Cedric Soares, Thomas Partey and Rob Holding likely to leave.