Arsenal: How much money can be raised this summer?

Arsenal reportedly have a transfer budget of just £45 million plus player sales this summer. So how much money can actually be raised by selling players to re-invest?

The Arsenal squad was always in need of some major surgery. Arsene Wenger did not leave it in a great state and with a slew of underperforming players on unaffordable wages, it was always going to take some rather substantial investment.

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Sadly, the club could not afford substantial investment. Approximately £70 million was spent in the summer, which was enough for Unai Emery to admit that only loan signings could be made this January. And now, according to the Daily Mail, which is not the most watertight of sources, I admit, Emery will only be handed £45 million plus player sales to work with this summer.

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Obviously, £45 million is not enough to aptly retool a whole squad. In the modern market, it might get one good player, two at a stretch. But with Emery now having a year in the job to install his plans and determine what players he wants to keep with him for the long-term, there is the opportunity for more significant player sales that could boost the transfer budget and then be re-invested into other areas of the squad.

So, just how much could Arsenal raise this summer, should they choose to put on a backyard sale?

Well, firstly, they will be offloading the £100,000-a-week wages of Aaron Ramsey, Danny Welbeck, Stephan Lichtsteiner and Petr Cech (those figures are approximate and averaged between the quartet), two of which have already confirmed will depart and two will most likely leave. That will free up some wage space. But none of those exits will provide any transfer funds.

Of players that could be actively sold, Calum Chambers, Mohamed Elneny and Shkodran Mustafi are the most likely. Either on loan or largely unused, it would be surprising if Emery felt they were key members of his team moving forward. Realistically, Arsenal could sell the trio for around £50 million, £20 million, £10 million and £20 million respectively.

After that, decisions get a little tougher. Mesut Ozil is seemingly not a part of Emery’s plans. Should he be sold, not only will it raise more funds but it will alleviate £350,000-a-week of wage pressure. Unfortunately, those wages, along with his age, will drive the price down. £25-30 million might be the best the Gunners get.

Granit Xhaka is another who could be sold thanks to the emergence of Matteo Guendouzi. Arsenal might be able to squeeze out another £25-30 million but would likely have to reinvest some of that in a new defensive midfielder due to a shortening depth, though that player would not need to be a starter.

Totting all that up, it is possible that Arsenal could raise up to £100 million this summer in player sales as well as some rather extensive loosening of the wage budget. Is that enough to spend in all the positions that are necessary? Perhaps not. But it is a start.