Arsenal's 2019 record signing Nicolas Pepe standing next to Mikel Arteta at the Emirates Stadium
Arsenal massively regretted breaking the bank for Nicolas Pepe in 2019.Manh Tung - Breaking Media

Biggest waste of money since Nicolas Pepe, Arsenal must cut their losses on attacking dud

Harri Burton

Senior Correspondent AUTHORITY Senior football journalist specialising in refereeing and officiating; former contributor to The Football League Paper, Late Tackle, and the Premier League; University of Derby graduate. FOCUS Refereeing controversies, football finance and governance, PGMOL decisions, and officiating analysis across the Premier League, EFL, and SPFL. THE INSIGHT Harri utilises a network of officiating and industry contacts to deliver verified, expert analysis of refereeing decisions and PGMOL policy. He provides the regulatory clarity behind the controversy to ensure fans get the full picture.

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Arsenal supporters have greatly appreciated Andrea Berta's expertise behind the scenes when it comes to transfers.

Since his arrival, Mikel Arteta's side have gone from strength to strength, with his new signings finally helping bring the Premier League trophy to North London.

Christos Tzolis, Bruno Guimaraes and Ezri Konsa have all settled into life at the Emirates perfectly, joining Viktor Gyokeres and Martin Zubimendi.

Not all signings have been given the seal of approval, with Gyokeres certainly dividing opinion, despite netting 21 goals in his first season.

However, it was transfers before him that caused the most controversy, especially when the Gunners splashed a club-record fee of £72million on Nicolas Nicolas Pepe in 2019.

The winger notched 27 goals and 21 assists in 112 games, was sent out on loan to Nice, before being allowed to leave on a free transfer in 2023.

Eberechi Eze's price tag far outweighs his impact

It is fair to say that Arsenal simply cut their losses with Pepe, who is now starring in La Liga. And they may have to do the same again soon.

Arteta's side hijacked Tottenham Hotspur's move for Eberechi Eze in the summer of 2025, spending £67.5m on the Crystal Palace star.

And while the attacking midfielder bagged 10 goals during the 2025-26 season, his impact often went missing in the biggest games.

Other than his hat-trick against Spurs, Eze, far too often, failed to impress, certainly compared to his price tag, and is now struggling for minutes once again.

By no means is the England international the Gunners' worst signing in recent history, but his transfer fee does not match his impact in the slightest.

Arsenal's 2019 record signing Nicolas Pepe standing next to Mikel Arteta at the Emirates Stadium
Arsenal have 'serious' concerns about Eberechi Eze
Arsenal's 2019 record signing Nicolas Pepe standing next to Mikel Arteta at the Emirates Stadium
Sources: Eberechi Eze set for new Arsenal role

Can the big-money Arsenal signing save his future?

Mick Brown revealed to Football Insider recently that Arsenal have "serious" concerns about Eze, who is more often than not coming off the bench.

The 28-year-old has played just 85 minutes in the Premier League this season, with his only start coming against Ipswich Town in the Carabao Cup.

Football Insider understands that the plan is to use Eze more as a left-winger in 2026-27, but right now, he can barely get any minutes at all.

There is absolutely no doubt that he's a talented player. But at the moment, Crystal Palace appear to have gotten the better deal from his move.

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