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Arsenal have posted the third-highest transfer deficit in the Premier League over the last decade, new data shows.

Thanks to new figures released by the CIES Football Observatory, the Gunners' transfer activity since the 2012 summer window has been put into perspective and once again outlines the problem the club has when it comes to selling players to balance the books.

In this period Arsenal have spent a total of €1029bn on the likes of Thomas Partey, Nicolas Pepe, Pierre-Emerick Aubameyang, Alexandre Lacazette, Mesut Ozil, Benjamin White, Shkodran Mustafi, Granit Xhaka, and William Saliba.

However, they have recouped €446m (£377m) on sales which gives them a total deficit of €583m (£492m).

The list of departures includes Aaron Ramsey, Ozil, Alexis Sanchez, Sokratis Papastathopoulos and Mustafi who have all left without the Gunners receiving a single penny.

This worrying trend under owner Stan Kroenke continued in the most recent January transfer window with Aubameyang agreeing to a mutual termination of his contract which allowed Barcelona to sign him for free.

Furthermore, with Lacazette's contract expiring at the end of the season, there's every chance Arsenal won't receive a