If Arsenal only had a £45m budget, how did they spend over £100m?

Arsenal’s summer activity

Whisper it quietly, but Arsenal fans are relatively happy at the moment.

That’s an enormous change from the mood around the Emirates Stadium in recent years.

Unai Emery improved Arsenal’s squad considerably in the summer with several signings.

Kieran Tierney and David Luiz joined the Gunners on transfer deadline day.

While, before that, Nicolas Pepe, William Saliba and Gabriel Martinelli all agreed permanent moves to the club.

In addition, Dani Ceballos joined Arsenal on loan from Real Madrid.

Who left Arsenal?

Stephan Lichtsteiner and Petr Cech left Arsenal after their contracts expired.

Similarly, Aaron Ramsey and Danny Welbeck joined Juve and Watford respectively as free agents.

With regards to sales, Alex Iwobi’s move to Everton was the highest-earning deal.

However, Arsenal also raised funds by selling Laurent Koscielny, David Ospina, Carl Jenkinson and Takuma Asano.

So how did Arsenal balance their books?

Throughout the summer, Arsenal fans were told that the club only had 45 million pounds to spend on new players.

Yet, the Gunners appeared to end up spending over 100 million pounds on acquisitions.

On Tuesday, the excellent Swiss Ramble have delved into Arsenal’s finances and transfer activity.

Swiss Ramble on Arsenal

Below is a detailed explanation as to how Arsenal balanced their books this summer.

Also see: Tottenham’s Tanguy Ndombele confirms ‘difficulty’ after Aston Villa.

Why Jan Vertonghen was dropped & Christian Eriksen was benched for Tottenham 3 – Aston Villa 1.

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