Arsenal's accounts reveal HUGE cost of worst-ever signing

Paul Macdonald

• 29 Feb 2024 15:00 GMT
• 2 min read

Arsenal released their 2022/23 accounts this week, and contained within them was a grim statement regarding the winger Nicolas Pepe.

The winger was signed from Lille for a then record-breaking £72 million, to much fanfare and anticipation, but things soon turned sour.

Pepe’s dreadful form meant that by the time his third season at the Emirates came around, he was reduced to just five Premier League starts, contributing just a single goal.

READ MORE: Arsenal's worst-ever transfers

Pepe spent the next season on loan back in Ligue 1 before Arsenal, desperate to get him off the wage bill, allowed him to leave on a free and move to Turkey with Trabzonspor. Predictably, he has made more substitute appearances than starts in 2023/24 for his new club.

But Arsenal’s accounts revealed that a combination of Pepe’s transfer fee plus the wages and bonuses the player collected during his time in London amounted to a total deal worth £100m - a truly mind-boggling sum for a player who made less than minimal impact for the Gunners.

The accounts also showed that Arsenal made a £52m loss at the end of the 2022/23 season, and even with the amortisation of transfer fees which is common in the modern game, that number could get worse next season due to the high-profile acquisitions of Declan Rice and Kai Havertz - though a return to the Champions League will have increased broadcast revenue considerably.

READ MORE: Arsenal's best-ever transfers

But for Arsenal fans Pepe is a reminder of where the club were just five years ago, and the strides it has made since arguably their worst-ever piece of transfer business.