The 10 most expensive Arsenal transfers of all time, including five Mikel Arteta signings

After struggling for money following their move to the Emirates, Arsenal have really started to splash the cash in recent years.

The Gunners are showing their ambition and recently broke their own transfer record in an attempt to win their first Premier League title since 2003/04.

We’ve taken a look at the 10 most expensive signings in Arsenal’s history and how those players subsequently fared after completing the move.

Note: we’ve only used the initial transfer fees and haven’t taken into account any potential add-ons.

10. Shkodran Mustafi – £35m

A World Cup winner with Germany, Mustafi impressed at Valencia and joined Arsenal in a £35million deal in the summer of 2016.

He enjoyed a bright start to his Arsenal career, going on a 22-game unbeaten run during his first five months in north London.

But things then went downhill quickly for the centre-back, and a series of calamitous errors followed over the next four years.

After being deemed surplus to requirements by Mikel Arteta, his Arsenal contract was terminated by mutual consent in February 2021.

9. Mesut Ozil – £42.5m

Having starred for Real Madrid, expectations were high when Ozil completed a £42.5million move to Arsenal on transfer deadline day in 2013.

The former Germany international helped end Arsenal’s nine-year trophy drought, winning three FA Cups during his first four years in England.

He provided plenty of moments of magic and also received Arsenal’s Player of the Season award in 2015/16 after registering 19 assists in the Premier League.

But the enigmatic playmaker fell out of favour under Unai Emery and Arteta and was shipped out on a free transfer to Fenerbahce in January 2021.

Mesut Ozil brought his magic from Real Madrid to Arsenal eight years ago today 🔮

(via @ChampionsLeague) pic.twitter.com/ffMnPkN277

— B/R Football (@brfootball) September 2, 2021

8. Gabriel Jesus – £45m

After working with Jesus at Manchester City during his time as an assistant coach to Pep Guardiola, Mikel Arteta brought the striker to Arsenal in the summer of 2022.

He scored 11 Premier League goals in his debut season as they finished runners-up to Manchester City and secured Champions League qualification after a six-year absence from Europe’s top competition.

But the Brazil international netted just four league goals in the 2023/24 season and has now lost his place in Arteta’s starting line-up.

He has been linked with a transfer away from the Emirates and sources have confirmed to TEAMtalk that the Gunners are looking to sign a new striker in 2025.

7. Thomas Partey – £45.3m

Following a long transfer saga, Arsenal eventually agreed to trigger the £45.3million release clause in Partey’s Atletico Madrid contract on transfer deadline day in 2020.

While the Ghana international has shown glimpses of his talent in the last four-and-a-half years, a series of injury problems have plagued his time in north London.

He has made a strong start to the 2024/25 season but faces an uncertain future at the Emirates as his contract is due to expire at the end of the campaign.

6. Alexandre Lacazette – £46.5m

Lacazette scored 37 goals in 45 appearances during his final season at Lyon before joining Arsenal in 2017 for a then-club-record fee.

He failed to replicate that prolific form in an Arsenal shirt but had a respectable record of 71 goals in 206 appearances and also won their Player of the Season award in 2018/19.

The former France international left north London when his contract expired at the end of the 2021/22 season and returned to Lyon.

5. Ben White – £50m

Eyebrows were raised when Arsenal agreed to pay £50million for White, who had just one season of top-flight football under his belt.

The former Brighton centre-back had a disastrous debut against Brentford on the opening day of the 2021/22 season but bounced back and silenced his critics.

He made a seamless transition to right-back at the start of the 2022/23 season and is now considered one of the best in his position in the Premier League.

“Ben is a key player for us, a top professional with a winning mentality, and one of the guys who leads by example every day,” Arteta said. “Ben’s ability, determination and positive attitude are so important, but he is also a great character and human being.”

4. Pierre-Emerick Aubameyang – £56m

The last signing from the Arsene Wenger era, Aubameyang left Borussia Dortmund and joined Arsenal in a £56million deal in January 2018.

He established himself as one of the most clinical strikers in the world and won the Premier League Golden Boot award in 2018/19.

The Gabon international also led the Gunners to FA Cup success in 2019/20, scoring both goals in the semi-final and the final as they overcame Manchester City and Chelsea.

But his form took a swift nosedive after he signed a new £350,000-a-week deal in September 2020 and that contract was terminated by mutual consent in February 2022.

Pure skill from Aubameyang to put Arsenal up 😤 @brfootball

(via @EmiratesFACup)pic.twitter.com/VG0FptYpwS

— Bleacher Report (@BleacherReport) August 1, 2020

3. Kai Havertz – £62m

Despite failing to live up to expectations at Chelsea, Havertz did enough to impress Arteta and joined Arsenal in a deal worth an initial £62million.

He endured a slow start to life in north London in the first half of the 2023/24 season but has excelled since moving into the centre-forward position.

The Germany international finished his debut campaign with 13 goals and seven assists in the Premier League and has become a fan favourite at the Emirates.

“He has been unbelievable,” Arteta said. “His football brain, the way he understands space, his timing, he brings people together. His work ethic is incredible and now he is a real threat around the box. He is one of our main players at the moment.”

2. Nicolas Pepe – £72m

While Unai Emery wanted to sign Wilfried Zaha in the summer of 2019, the Arsenal hierarchy overruled his decision and ended up buying Pepe instead.

He displayed glimpses of his talent and played a key role in Arsenal’s FA Cup success in 2019/20, setting up the winning goal in the final.

But the Ivory Coast international failed to justify the £72million price tag and was ultimately usurped by academy graduate Bukayo Saka.

Pepe spent the 2022/23 season on loan at Nice and the Gunners decided to terminate his contract in September 2023.

1. Declan Rice – £100m

After leading West Ham United to victory in the 2023 Europa Conference League final, Rice decided to leave his boyhood club.

Arsenal then broke their transfer record and fought off competition from Manchester City and Bayern Munich to sign the England international.

“It’s £100 million, it’s a lot of money, I could understand the pressure that comes with it,” Rice said. “Not only the pressure you put on yourself but there’s an expectation of being bought for that much money.

“People need to see performances straight away. I want to re-pay the club straight away, they have invested a lot of money in me, I need to prove why I can go there and change things.”

But the midfielder justified that fee with his performances in his debut season and was named in the PFA Premier League Team of the Year in 2023/24.

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