Arsenal manager Mikel Arteta has overseen a massive overhaul of his playing squad since his arrival, spending plenty of money in the transfer market to turn his side into regular challengers for silverware.
The Gunners splashed the cash in 2025 on the likes of Eberechi Eze and Viktor Gyokeres, but who is the club’s most expensive signing of all time?
Here, we’ve taken a look at Arsenal’s most expensive signings in their history, with the help of Transfermarkt and news reports, alongside a detailed look at the top 10.
Rank
Player
Year
Signed from
Fee
Declan Rice
2023
West Ham
Nicolas Pepe
2019
Lille
Eberechi Eze
2025
Crystal Palace
Kai Havertz
2023
Chelsea
Viktor Gyokeres
2025
Sporting CP
Martin Zubimendi
2025
Real Sociedad
Pierre-Emerick Aubameyang
2018
Borussia Dortmund
Noni Madueke
2025
Chelsea
Ben White
2022
Brighton
Alexandre Lacazette
2017
Lyon
Thomas Partey
2020
Atletico Madrid
Gabriel Jesus
2022
Man City
Mesut Ozil
2013
Real Madrid
Riccardo Calafiori
2024
Bologna
Jurrien Timber
2023
Ajax
Shkodran Mustafi
2016
Valencia
Granit Xhaka
2016
Borussia Monchengladbach
Alexis Sanchez
2014
Barcelona
Fabio Vieira
2022
FC Porto
Mikel Merino
2024
Real Sociedad
Here’s a detailed look at Arsenal’s 10 most expensive signings:
10 Alexandre Lacazette £46.5m from Lyon, 2017
French forward Alexandre Lacazette joined Arsenal in 2017 from Lyon after spending his entire career with the Ligue 1 side.
He went on to have five years at the Emirates, making more than 200 appearances and scoring 71 times, winning the FA Cup. Lacazette left Arsenal on a free transfer, returning to Lyon where he will go down as a club icon.
9 Ben White £50m from Brighton, 2021
After starring out on loan with Leeds United in the Championship and making an impact in the Premier League with Brighton, Arsenal won the race to sign Ben White in 2021.
The versatile defender has been a regular for Arsenal since then and has been transformed into a right-back under Arteta, with his contract with the Gunners running until 2028.
8 Noni Madueke £52m from Chelsea, 2025
Noni Madueke was one of Arsenal’s first summer signings of 2025, swapping Stamford Bridge for the Emirates in a deal worth a total of £52m.
The Gunners would go on to spend a lot more ahead of the 2025/26 season, with Madueke penning a five-year contract.
7 Pierre-Emerick Aubameyang £56m from Borussia Dortmund, 2018
In 2018, Arsenal spent big to add more firepower to their attack, with Pierre-Emerick Aubameyang joining from Borussia Dortmund. In total, Aubameyang would go on to score 92 goals in 163 appearances, scoring the winner in the 2020 FA Cup final.
Aubameyang and Lacazette struck up a good relationship in north London, but like his former strike partner, he left Arsenal in 2022 before returning to England for a short stint with Chelsea.
6 Martin Zubimendi £60m from Real Sociedad, 2025
Central midfielder Martin Zubimendi almost signed for Liverpool in 2024, however, six months later, Arsenal were putting plans in place to sign the Spaniard ahead of those at Anfield.
A transfer was put in place in January 2025 and Zubimendi moved to north London six months later.
5 Viktor Gyokeres £63m from Sporting CP
Signing a new striker was Arsenal’s biggest priority in 2025, and Viktor Gyokeres was the centre-forward tasked with leading the Gunners’ line.
After scoring for fun with Sporting CP, Arsenal spent a total of £63m to win the race for the Sweden international, who only wanted the Gunners.
4 Kai Havertz £65m from Chelsea, 2023
Chelsea recouped the majority of the transfer fee they paid Bayer Leverkusen for Kai Havertz when selling him to Arsenal in 2023, with the German attacker penning a five-year deal at the Emirates.
The versatile forward has been deployed in numerous positions by Arteta so far and looks to be a valuable signing going forward.
3 Eberechi Eze £67.5m from Crystal Palace, 2025
Eberechi Eze’s move to Arsenal in 2025 was one of the most dramatic, with the attacking midfielder so close to joining rivals Tottenham Hotspur.
Before he signed for Spurs on the dotted line, boyhood Gunner Eze phoned Arteta, which led to Arsenal hijacking a transfer and sealing a deal with Crystal Palace worth a total of £67.5m.
2 Nicolas Pepe £72m from Lille, 2019
A big-money signing that ultimately didn’t work out was Nicolas Pepe. Arsenal splashed the cash on the Ivorian back in 2019 after starring in France for Lille.
However, Pepe never really got to grips with life in England and, after making 112 appearances for the club, scoring 27 times, left in 2023 on a free transfer despite having 12 months remaining on his contract at the time.
1 Declan Rice £105m from West Ham, 2023
Comfortably Arsenal’s record signing, Declan Rice was also wanted by Manchester City during the summer of 2023, but it was the Gunners who won the race after laying plenty of groundwork months prior.
The England international is under contract until 2028, so he looks set to be an important member of Arteta’s side for years to come.