Having failed to qualify for the Champions League via the league route and the Europa League path, Arsenal's budget has significantly shrunk from what it could have potentially been. As such, they will need to sell at least a couple of their existing players to generate money.
However, the Gunners do not have a good track record in selling players, going as far back as two decades for their sale, despite the inflated market we are currently in.
Here are the top five player sales Arsenal have ever done:
5. Robin van Persie - €30.7 Million
Robin van Persie more or less ensured he would be sold by Arsenal after his public statement in the summer of 2012 saying he did not agree with the direction of the team and would not be signing an extension.
With Manchester United the only club really interested in the player, Arsenal had no option but to sell Van Persie as he had only one year left on his contract. The Gunners managed to weasel out €30.7m for the Dutch international, thanks to the form he was in at that time.
4. Alexis Sanchez and Cesc Fabregas - €34 Million
Another player who refused to play to engineer a move was Cesc Fabregas. The then Arsenal captain was keen on moving to boyhood club Barcelona and did all he could to force the club's hands. Despite being in a position of power, Arsenal could not but accede to Barcelona's bid of a pitiful €34million in the summer of 2011.
Although Alexis Sanchez's transfer to Manchester United did not involve any cash exchange, he was swapped for Henrikh Mkhitaryan, marking both players with a value of €34m.
3. Nicolas Anelka - €35 Million
Nicolas Anelka moved to Arsenal at a very early age and formed a great combination with Dennis Bergkamp. However, the Frenchman was not happy that fans did not see him as the natural successor to Bergkamp and wanted out.
Arsenal sold the player to Real Madrid for €35million in the summer of 1999, using that money to buy Thierry Henry and develop a new training facility.
2. Alex Oxlade-Chamberlain - €38 Million
Alex Oxlade-Chamberlain was a key member of the Arsenal for quite a few years, but he was more or less played on the wings by then manager Arsene Wenger. The English international was keen on playing in the centre of midfield and seeing no chance of that opportunity of that happening at Arsenal, moved to Liverpool in the summer of 2017 for €38million.
1. Marc Overmars - €40 Million
Marc Overmars was at Arsenal for two seasons and helped them win the League and Cup double in the 1997/98 season. However, when Barcelona came calling, the Frenchman had no compunction in leaving the Gunners and moving to Spain.
Arsenal ensured they got paid big money in the summer of 2000, selling the player for a club record €40million.
Top five player sales in Arsenal's history