Arsenal's €1bn spending faces ultimate test in 2025/26

Having won just one major trophy since his appointment as Arsenal manager, Mikel Arteta is under pressure to demonstrate he is the right man for the job.

Arteta made a flying start with the club, winning the FA Cup just six months into his tenure. However, silverware has eluded the Gunners since then.

Three successive second-place finishes in the Premier League suggest that Arsenal are not too far away from where they need to be under Arteta.

Examining the situation with a more analytical eye, it can be argued that Arteta’s failure to deliver major silverware can be attributed to their dealings in the transfer market.

Arsenal have spent €1,016,000,000 on transfer fees since Arteta was appointed, a tally which equates to an average of €29,882,353 per player.

Here’s a look at the incoming transfers under Arteta (statistics correct on July 29, 2025).

	Position	From	Fee	Year	Outcome
Declan Rice	Midfield	West Ham United	€116.60m	2023	Hit
Kai Havertz	Forward	Chelsea	€75.00m	2023	Jury out
Martin Zubimendi	Midfield	Real Sociedad	€70.00m	2025	Jury out
Viktor Gyokeres	Forward	Sporting Cp	€65.80	2025	Jury out
Ben White	Defence	Brighton & Hove Albion	€58.50m	2021	Hit
Gabriel Jesus	Forward	Manchester City	€52.20m	2022	Miss
Thomas Partey	Midfield	Atletico Madrid	€50.00m	2020	Miss
Riccardo Califiori	Defence	Bologna	€45.00m	2024	Jury out
Jurrien Timber	Defence	Ajax	€40.00m	2023	Jury out
Noni Madueke	Forward	Chelsea	€40.00m	2025	Jury out
Martin Odeagaard	Midfield	Real Madrid	€35.00m	2021	Hit
Fabio Vieira	Midfield	Porto	€35.00m	2022	Miss
Oleksandr Zinchenko	Defence	Manchester City	€35.00m	2022	Miss
Mikel Merino	Midfield	Real Sociedad	€32.00m	2024	Jury out
David Raya	Goalkeeper	Brentford	€31.90m	2024	Hit
Aaron Ramsdale	Goalkeeper	Sheffield United	€28.00m	2021	Hit
Gabriel Magalhaes	Defence	Lille	€26.00m	2020	Hit
Leandro Trossard	Forward	Brighton & Hove Albion	€24.00m	2023	Hit
Jakub Kiwior	Defence	Spezio Calcio	€19.50m	2023	Miss
Takehiro Tomiyasu	Defence	Bologna	€18.60m	2021	Miss
Albert Sambi Lokonga	Midfield	Anderlecht	€17.50m	2021	Miss
Cristhian Mosquera	Defence	Valencia	€15.00	2025	Jury out
Christian Norgaard	Midfield	Brentford	€11.60m	2025	Jury out
Jorginho	Midfield	Chelsea	€11.30m	2023	Hit
Nuno Tavares	Defence	Benfica	€8.00m	2021	Miss
Pablo Mari	Defence	Flamengo	€6.00m	2020	Miss
Matt Turner	Goalkeeper	New England Revolution	€5.90m	2022	Miss
Kepa Arrizabalaga	Goalkeeper	Chelsea	€5.80m	2025	Jury out
Marquinhos	Forward	Sao Paolo	€3.50m	2022	Miss
Runar Alex Runarsson	Goalkeeper	Dijon	€2.00m	2020	Miss
Auston Trusty	Defence	Colorado Rapids	€1.80m	2022	Miss
Cedric Soares	Defence	Southampton	Free	2020	Miss
Willian	Forward	Chelsea	Free	2020	Miss
Mathew Ryan	Goalkeeper	Brighton & Hove Albion	Loan	2021	Miss
Neto	Goalkeeper	Bournemouth	Loan	2024	Miss
Raheem Sterling	Forward	Chelsea	Loan	2024	Miss

While acknowledging that the judgments made in the ‘outcome’ column are subjective and could change over time, they paint a worrying picture.

Just eight of the club’s signings can be categorised as being a ‘hit’, while another ten have yet to prove themselves either way. The remaining 18 have failed to deliver for the club.

It would be unfair to pin those damning statistics exclusively on Arteta, given that the club implemented significant changes in its scouting department.

Former Arsenal technical director Edu played a major role in revamping the off-field set-up, and it would be hard to argue that he was successful.

However, Arteta is actively involved in transfer dealings, and it is undoubtedly his responsibility to get the best out of the players at his disposal.

The good, the bad and the ugly

Before delving deeper into Arsenal’s transfer business over the past few years, it is important to note that results have improved since Arteta was appointed.

The Gunners finished eighth and fifth in the Premier League in his first two seasons in charge. They lost 26 of their 76 outings during that period.

In the last three seasons, Arsenal have lost 15 out of 114 league games. By any measure, these statistics highlight significant progress.

Despite this, Arsenal fans are concerned that the improvement has not delivered the desired results in terms of major silverware. Their record in the transfer market has played a part.

While none of the sextet have won a trophy at the club, Ben White, Martin Odegaard, Declan Rice, David Raya and Gabriel Magalhaes have all been successful signings.

White made the right-back position his own before sustaining an injury last season, but he has proved to be a solid acquisition by the club.

Odegaard has demonstrated that he is a world-class player after being entrusted with playmaking responsibilities at Arsenal, although he experienced a dip in form last term.

Rice has established himself as a leader in the middle of the park and should progress further when paired with Martin Zubimendi.

Raya shone during an initial loan spell with the club and has since shown why Arteta was so keen to sign him from Brentford, despite a few mishaps along the way.

Gabriel is the undisputed standout signing of that group, both in terms of his consistent performances and the value for money he has offered since joining from Lille in 2020.

Jorginho and Leandro Trossard also fall into the ‘hit’ category. They were signed for reasonable fees, and both became productive members of the first team squad.

Aaron Ramsdale is another player who deserves to be looked on positively after Arteta ruthlessly axed him in favour of Raya.

The manager preferred Raya due to his ability with the ball at his feet, but Ramsdale can count himself unfortunate to have been cast aside.

Things become a little cloudier when considering the players who have yet to fully prove themselves at Arsenal.

Zubimendi, Victor Gyokeres, Kepa Arrizabalaga, Cristhian Mosquera, Christian Norgaard and Noni Madueke receive a pass for now as they have only signed for the club this summer.

The jury is also out on Jurrien Timber and Riccardo Calafiori. While they have both shown promise, injuries have limited their overall impact.

Mikel Merino also lands in the ‘jury out’ category. Although he contributed some useful goals last season, it is too early to judge whether his acquisition has been a success.

Those nine signings still have time to prove their worth – a point that also applies to Kai Havertz.

Havertz has received criticism since joining the club, mainly for his inability to deliver consistent performances and lack of composure in front of goal.

The German international is a frustrating conundrum to unravel. He is a hugely talented footballer, yet it would be hard to definitively say where his best position is.

Havertz has the ability to be part of a trophy-winning team, and Arteta must work out how best to utilise his talents if he is to be successful at Arsenal.

The same cannot be said for many of the poor signings during the Arteta era – a list which includes Gabriel Jesus, Thomas Partey and Raheem Sterling.

Jesus has failed to show he can carry the goalscoring burden for the club, while Partey’s inability to stay fit was hugely frustrating.

Sterling’s loan move last season was designed to give him a chance to reignite his career, but he failed to grasp the opportunity.

However, the club appear to have learned from some of their previous mistakes in the transfer market if their summer business is anything to go by.

Summer transfer business offers Arsenal hope

Arsenal’s board have backed Arteta in the transfer market since he arrived at the club, and they have continued in the same vein this summer.

Zubimendi should be the catalyst for the Gunners to dominate games in midfield, while Arrizabalaga and Norgaard are shrewd additions to the squad.

Madueke and Mosquera have the potential to become top-class players, although it will be intriguing to see where they fit into the first-team picture.

The addition of striker Viktor Gyokeres could be the final piece in the jigsaw, giving Arsenal the firepower to mount a genuine challenge for silverware.

Most of the club’s transfer business during Arteta’s time as manager has question marks hanging over it, but the picture could be different at the end of this season.

A Premier League title win would turn many of the ‘jury out’ players into the ‘hit’ category and produce a different narrative around their recent transfer dealings.

It is not hyperbolic to suggest that the 2025/26 campaign is make-or-break for Arteta. Win a major trophy, and all will be well with the world.

Arsenal fans are eager for the Spaniard to succeed.

The post Arsenal's €1bn spending faces ultimate test in 2025/26 first appeared on ArsenalNews.co.uk.