Arsenal’s 25 Most Expensive Signings Of All Time

During the Arsene Wenger era, Arsenal were frequently accused of being too cheap in the transfer market as they often failed to land top players.

Despite being linked with a plethora of world-class talents, the French manager had a habit of ‘almost’ signing his targets, making fans frustrated with his conservative transfer policy.

However, Wenger knew when to splash out the cash to take the game-changers to the Emirates Stadium, something his successors have not excelled in.

Given the fact that the legendary Frenchman was at the helm for 22 years, it’s somewhat mind-boggling that just six of Arsenal’s 25 most expensive acquisitions came under his watch.

The Gunners have started spending big since Wenger’s exit in 2018, and they finally reaped their reward in the 2025/26 Premier League season, winning their first top-flight title in over two decades.

Below are the 25 most expensive Arsenal signings of all time.

1. William Saliba – €30m (Saint-Etienne, 2019)
2. David Raya – €31.9m (Brentford, 2024)
3. Mikel Merino – €32m (Real Sociedad, 2024)
4. Henrikh Mkhitaryan – €34m (Man Utd, 2018)
5. Martin Odegaard – €35m (Real Madrid, 2021)
6. Oleksandr Zinchenko – €35m (Man City, 2021)
7. Fabio Vieira – €35m (Porto, 2022)
8. Jurrien Timber – €40m (Ajax, 2023)
9. Shkodran Mustafi – €41m (Valencia, 2016)
10. Alexis Sanchez – €42.5m (Barcelona, 2014)
11. Riccardo Calafiori – €45m (Bologna, 2024)
12. Granit Xhaka – €45m (Borussia Monchengladbach, 2016)
13. Mesut Ozil – €47m (Real Madrid, 2013)
14. Thomas Partey – €50m (Atletico Madrid, 2020)
15. Gabriel Jesus – €52.5m (Manchester City, 2022)
16. Alexandre Lacazette – €53m (Lyon, 2017)
17. Noni Madueke – €56m (Chelsea, 2025)
18. Ben White – €58.5m (Brighton & Hove Albion, 2021)
19. Pierre-Emerick Aubameyang – €63.8m (Borussia Dortmund, 2018)
20. Viktor Gyokeres  – €65.8m (Sporting CP, 2025)
21. Eberechi Eze – €69.3m (Crystal Palace, 2025)
22. Martin Zubimendi – €70m (Real Sociedad, 2025)
23. Kai Havertz – €75m (Chelsea, 2023)
24. Nicolas Pepe – €80m (Lille, 2019)
25. Declan Rice – €116.6m (West Ham United, 2023)

Now, let’s see how Arsenal’s 25 marquee signings panned out. 

#25 William Saliba – €30m (Saint-Etienne, 2019)

Saliba’s transfer fee feels like a bargain. Indeed, the Frenchman has developed into one of the most reliable centre-backs in world football, let alone the Premier League.

He has forged a superb defensive partnership with Gabriel Magalhaes, a cornerstone of Arsenal’s first league title since 2004.

Whether he’ll stay in North London amid growing interest from Real Madrid remains to be seen. Nevertheless, it remains one of the Gunners’ best pieces of business this century.

#24 David Raya – €31.9m (Brentford, 2024)

Raya initially arrived at the Emirates to play second fiddle to Aaron Ramsdale, only to leapfrog the English goalkeeper in the pecking order after just a few months.

In addition to his brilliant reflexes and stunning saves that helped Arsenal wrestle back the crown, the Spaniard may just be the most skilled shot-stopper in England’s top flight.

#23 Mikel Merino – €32m (Real Sociedad, 2024)

After everything Merino has done since joining the club two years ago, one would be right to wonder what his favourite position is.

Though he has never been a regular starter, Merino has emerged as Arsenal’s saviour on more than one occasion, with his heading ability bailing the Gunners out of trouble in many high-stakes games.

A perfect utility man!

#22 Henrikh Mkhitaryan – €34m (Manchester United, 2018)

One of the worst swap deals in recent memory saw Arsenal and Manchester United arrange Mkhitaryan’s move to London in January 2018, with Alexis Sanchez heading in the opposite direction.

While Sanchez was at his peak at the time of the transfer, the Armenian midfielder had never found his feet at Old Trafford, making the Gunners’ decision to bring him in all the more surprising.

Mkhitaryan seemed always destined to falter, and indeed, he did. He left the club in 2019 to join Roma.

#21 Martin Odegaard – €35m (Real Madrid, 2021)

When Los Blancos signed Odegaard as a teenager, everyone thought he would be the next big thing at the Santiago Bernabeu, but it wasn’t meant to be for the Norwegian playmaker.

Unable to secure regular first-team football in La Liga, he relocated to London in 2021. He has since gone on to become one of Arsenal’s standout performers, earning the captain’s armband in the process.

Unfortunately, injuries have curtailed his momentum over the past 12 months.

#20 Oleksandr Zinchenko – €35m (Man City, 2021)

Zinchenko was one of Mikel Arteta’s first signings at Arsenal. After working together at Man City, Arteta took the Ukrainian left-back with him to the capital, making him one of his most trusted allies.

However, it didn’t take long before he fell out of favour. After being loaned out to Nottingham Forest in 2025, he permanently left the club midway through the 2025/26 season to join Ajax.

#19 Fabio Vieira – €35m (Porto, 2022)

Despite his undeniable technical quality, Vieira has been up the creek without a paddle since leaving boyhood club Porto to sign for Arsenal four years ago.

He spent the last two seasons on loan at Porto and Hamburger SV, respectively, and with just one year left on his contract, he’s widely expected to depart the club in the coming months.

Not one of Arsenal’s best deals!

#18 Jurrien Timber – €40m (Ajax, 2023)

Timber could not have imagined a worse way to get his Premier League career underway as he suffered a severe knee injury on his Arsenal debut.

Still, he has gone from strength to strength since regaining full fitness, establishing himself as one of the most dependable full-backs in the division.

One of Arteta’s defensive mainstays!

#17 Shkodran Mustafi – €41m (Valencia, 2016)

Mustafi was the embodiment of Arsenal’s defensive woes throughout the years, with his sloppiness and blunders making him one of the most unpopular figures in North London.

After having the likes of Sol Campbell and Kolo Toure rocking at the back in the first decade of the 21st century, the Gunners must have been wondering how they ended up with the World Cup-winning flop.

It took them a while to trick Schalke 04 into buying their overpaid outcast in 2021, with Mustafi going on to help the Miners drop out of the Bundesliga in his first and only season at the club.

#16 Alexis Sanchez – €42.5m (Barcelona, 2014)

While the acquisition of Mustafi remains one of the worst pieces of business at the Emirates in the past decade, Arsenal’s decision to go all-out for Alexis Sanchez in 2014 proved a huge coup for the Gunners.

Despite a disappointing stint at Barcelona beforehand, the Chilean winger flourished in the Premier League, becoming one of the world’s best forwards.

During his impressive three-and-a-half years at Arsenal, Sanchez was arguably one of the fiercest attacking players in Europe before joining Manchester United in January 2018, and that’s where things started going south for the current Sevilla veteran.

#15 Riccardo Calafiori – €45m (Bologna, 2024)

Opinions remain divided over Calafiori, who chose Arsenal over several top Serie A teams, including AC Milan and Juventus, in 2024 after making a name for himself under Thiago Motta’s tutelage at Bologna.

The Italian defender didn’t come cheap, but whether he has done enough to justify his substantial transfer fee remains highly questionable. A return to his old stomping ground could be on the cards this summer.

#14 Granit Xhaka – €45m (Borussia Monchengladbach, 2016)

Xhaka moved to Arsenal towards the end of Wenger’s regime and successfully navigated the club’s transition into the Emery and Arteta eras, playing a prominent midfield role under all three managers.

While his brief fallout with the Gunners faithful threatened to overshadow his contributions, it ultimately became just a footnote in an otherwise impressive Arsenal career, highlighted by the club’s captaincy and two FA Cup triumphs.

#13 Mesut Ozil – €47m (Real Madrid, 2013)

At his pinnacle, Ozil was a piece of art, a true magician. No wonder Cristiano Ronaldo lashed out at the Real Madrid hierarchy for sanctioning the German’s switch to London in 2013.

Comfortable playing anywhere alongside the frontline, the illustrious advanced playmaker used to lift the Emirates crowd off their feet with his sublime touch and out-of-this-world assists.

Too bad he lacked discipline and work ethic, considering he was on course to become one of the most prolific attacking midfielders Arsenal have ever had.

#12 Thomas Partey – €50m (Atletico Madrid, 2020)

Though Partey’s maiden season in the Premier League failed to explain why Arsenal dashed out £45m to take him away from Atletico Madrid, the Ghanaian notably improved in the follow-up year.

Known for his ferocious tackling and ball-winning skills, Partey rediscovered his mojo under Arteta, turning into an essential first-team player. However, it didn’t last long.

Minor injury setbacks had hindered his progress, preventing the towering deep-lying midfielder from getting back on track before he eventually left the club as a free agent last summer.

#11 Gabriel Jesus – €52.5m (Manchester City, 2022)

Things didn’t work out for Jesus at Man City, and he was hopeful of rekindling his career at the Emirates. However, after enjoying a dream start to his Arsenal career, the Brazilian has hit a rough patch.

Injuries have frequently kept him out of action, disrupting his rhythm and limiting his ability to consistently display the qualities that once made him one of the world’s most promising youngsters.

#10 Alexandre Lacazette – €53m (Lyon, 2017)

Despite occasional sparks of brilliance and some vital goals in domestic football, Alexandre Lacazette was not the goalscoring machine Arsenal had hoped he would be when they signed him from Lyon in 2017.

The Frenchman’s ability to retain possession under pressure and open spaces for his teammates was off the charts in regard to the Gunners’ forwards in the post-Thierry Henry era.

Yet, Lacazette’s primary task was to score goals. He did it in patches before returning to his boyhood club in 2022.

#9 Noni Madueke – €56m (Chelsea, 2025)

Madueke has done little to play down fans’ skepticism in his first year at the club. Brought in to be a high-profile back-up for Bukayo Saka, the English winger has stuttered in North London.

Club supporters were desperate for the Gunners to call off their pursuit of Madueke last summer and even started a petition urging the club not to sign him. So far, it seems they were right.

#8 Ben White – €58.5m (Brighton & Hove Albion, 2021)

Tasked with changing the perception of Arsenal being a relatively ‘soft’ team at the back, White was under tremendous pressure to deliver upon his big-money arrival from Leeds United in 2021.

For years, the Gunners’ porous defence had been deemed the weakest part of the team, yet the Englishman has transformed it into a rock-solid unit.

Alongside Saliba and Gabriel, he has been one of the focal points of Arsenal’s impregnable defence over the past few years.

#7 Pierre-Emerick Aubameyang – €63.8m (Borussia Dortmund, 2018)

Lacazette’s lack of composure in front of goal forced Arsenal to fork out a then-club record transfer fee of £57m to sign Pierre-Emerick Aubameyang from Borussia Dortmund in February 2018.

The talismanic Gabonese forward proved a major hit in the Premier League, using his blistering pace, fancy footwork and scoring instincts to pick the opposition backlines apart.

Unfortunately, Aubameyang oftentimes found himself alone in the front third, with his teammates failing to back him up from behind before finally running out of patience and departing for Barcelona in February 2022.

#6 Viktor Gyokeres  – €65.8m (Sporting CP, 2025)

Lacking a lethal out-and-out striker was a major problem for Arsenal since Aubameyang’s exit, and the club felt the urge to splash out an upfront fee of €65.8m to sign Gyokeres last summer.

The Swede was a beast at Sporting CP, netting a mind-boggling 97 goals in 102 appearances. Though he failed to replicate those numbers in his first season at the Emirates, Gyokeres did help the Gunners end their title drought.

#5 Eberechi Eze – €69.3m (Crystal Palace, 2025)

Arsenal went above and beyond to hijack Eze’s transfer to Tottenham Hotspur on the back of Kai Havertz’s injury in the final stages of the last summer transfer window, making the English star their marquee signing.

Occasional flashes of pure quality proved he is more than capable of spectacular, but his maiden season at the Emirates left a lot to be desired, as he still seems to be trying to find his place in Arteta’s system.

#4 Martin Zubimendi – €70m (Real Sociedad, 2025)

Twelve months after rejecting Liverpool’s advances, Zubimendi finally made the leap to the Premier League when Arteta convinced him to join Arsenal.

The Gunners had pursued the Euro 2024 star for months before landing their long-term midfield target ahead of the 2025/26 campaign.

What a signing he has proved to be!

#3 Kai Havertz – €75m (Chelsea, 2023)

Once regarded as the Bundesliga’s brightest young talent, Havertz endured a frustrating spell at Chelsea despite scoring the winning goal in the 2021 Champions League final.

Constantly deployed in roles that failed to maximise his strengths, the German miserably faltered at Stamford Bridge.

Against this backdrop, Arsenal were willing to invest €75m in the versatile attacker, with Arteta convinced a move to the Emirates could reignite his career.

After a difficult start in North London, Havertz has gradually established himself as one of Arsenal’s most influential players, thriving in a false-nine role.

#2 Nicolas Pepe – €80m (Lille, 2019)

Arsenal thought they brought in a world-beater when they shattered the club’s record transfer fee to capture the services of Nicolas Pepe from Lille in 2019.

Unfortunately, instead of replacing Sanchez with world-class talent, the Londoners ended up with a £72m flop and had long been stuck with his whopping wages.

Arteta was desperate to get Pepe’s salary off the club’s books, with Villarreal jumping to his rescue in 2024. Against all expectations, Pepe has turned his fortunes around in La Liga.

#1 Declan Rice – €116.6m (West Ham United, 2023)

Arsenal went for broke to beat Chelsea and Man City to Rice’s signature in 2023, completing arguably their most important signing in the post-Wenger era.

Rice has been nothing short of outstanding during his three-year spell at the club, becoming the heartbeat of Arteta’s midfield and justifying every penny of his hefty transfer fee.