While there have been changes in the boardroom and a new willingness to spend from the owners, much of this change seems to have stemmed from Mikel Arteta.
The Spaniard has turned the team into consistent Premier League title challengers on the pitch and, in turn, an incredibly attractive destination for some of the game's biggest stars.
mikel-arteta-arsenal-premier-league
However, on top of that, he's also overseen an improvement in how the club sell in the market, with the sale of a player he once highly rated serving as an excellent example of this evolution.
Arteta's notable sales
Before we get to the player in question, it's worth examining some of the other brilliant sales completed under Arteta's management, starting with Eddie Nketiah.
Arsenal striker Eddie Nketiah
The former academy gem was once an important part of the Spaniard's squad and was even handed a bumper £100k-per-week contract in the summer of 2022.
However, after two seasons of underwhelming displays, he was finally moved on in the summer.
Nketiah's senior record
Club
Arsenal
Leeds
Palace
Appearances
168
19
14
Minutes
7000'
667'
733'
Goals
38
5
2
Assists
7
0
1
Goal Involvements per Match
0.26
0.26
0.21
Minutes per Goal Involvement
155.55'
133.4'
244.33'
All Stats via Transfermarkt
What makes his departure so remarkable is that despite him clearly being surplus to requirements at the Emirates, Crystal Palace still agreed to pay a whopping £30m for him, and while he did score against the Gunners on Wednesday night, his return of two goals and one assist in 14 appearances isn't great.
Another brilliant sale completed under the Spanish manager was fellow academy graduate Joe Willock, who joined Newcastle United on a permanent deal for around £25m in the summer of 2021.
elliot-anderson-joe-willock-newcastle-opinion-premier-league
The English midfielder actually joined the Magpies on a six-month loan that January and looked electric, scoring eight goals in 14 games.
However, in his first full campaign in the North East, he could only muster up a tally of two goals in 31 games, and as things stand, he has a fairly mediocre haul of 16 goals and seven assists in 119 appearances for the Toon, making the money Arsenal received for him look excellent.
Joe Willock's Newcastle record
Appearances
119
Minutes
7413'
Goals
16
Assists
7
Goal Involvements per Match
0.19
Minutes per Goal Involvement
322.30'
All Stats via Transfermarkt
However, there's been another academy gem sold under Arteta's reign who netted the club even more money than Willock and Nketiah, someone the manager once thought very highly of.
Arteta's brilliant sale
So, to get straight to the point, the player in question is none other than former academy star Folarin Balogun.
folarin-balogun-transfer-arsenal-academy-edu-arteta-omari-benjamin
The American international was once an incredibly exciting prospect at Arsenal, so much so that Martin Keown compared him to Ian Wright and Andy Cole after scoring in a Europa League game in 2020.
However, it was in the 22/23 season, when on loan with Ligue 1 side Stade Reims, the "unbelievable" gem, as dubbed by former manager Will Still, truly announced himself to the wider footballing world.
In just 39 first-team appearances, he scored 22 goals and provided three assists, equating to an average of a goal involvement every 1.56 games.
Unsurprisingly, this led to considerable praise from Arteta, who told the media that there was "something special" about the striker, although whatever it was, it still wasn't enough to see him become the manager's starting number nine upon his return.
balogun-monaco-arsenal
So, that summer, when AS Monaco came in with a mega £34m offer, the North Londoners bit their hand off, and in the season and a bit since, it has looked like a great decision to do so.
For example, while he was still effective in France last season, a haul of eight goals and seven assists in 32 games is hardly earth-shattering.
Folarin-Balogun-Monaco
Likewise, his tally of three goals and one assist in ten appearances this season wouldn't be enough to see him start for the Gunners.
Ultimately, Balogun is a very talented footballer and someone who looks more than good enough to enjoy a great career in one of Europe's top five leagues, but it feels doubtful that he'll become the world-beater some thought he would.
balogun-monaco-arsenal
Therefore, it was brilliant business from Arteta and Arsenal to get £34m for him last season, especially as he probably wouldn't have played much of a role had he stayed.
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