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Arsenal have spent £187m: Do they need to sell? What is their PSR position? Who could go?

阿森纳已花费1.87亿英镑：他们需要出售球员吗？PSR状况如何？谁可能离队？

By Dan Sheldon July 30, 2025 12:08 pm

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Arsenal have had a productive summer in the transfer market with their spending approaching £190million.

阿森纳在转会市场上度过了一个成果丰硕的夏天，他们的支出已接近1.9亿英镑。

Mikel Arteta has strengthened his squad through the acquisitions of goalkeeper Kepa Arrizabalaga and winger Noni Madueke from Chelsea, Christian Norgaard from Brentford, and midfielder Martin Zubimendi from Real Sociedad.

米克尔·阿尔特塔通过从切尔西签入门将凯帕·阿里萨巴拉加和边锋诺尼·马杜埃凯、从布伦特福德引进克里斯蒂安·诺尔高、以及从皇家社会购入中场马丁·苏维门迪，增强了球队阵容。

The club has also added striker Viktor Gyokeres, their marquee signing from Sporting CP, in a deal worth €63.5million (£54.8m; $74.2m) plus €10m of future bonuses, as well as defender Cristhian Mosquera for about €15m from Valencia.

俱乐部还以6300万欧元（5480万英镑）固定转会费外加最高1000万欧元未来奖金的价格，从葡萄牙体育签下了他们的重磅引援——中锋维克托·约克雷斯；并以约1500万欧元从瓦伦西亚引进了后卫克里斯蒂安·莫斯克拉。

But despite this important and heavy investment, Arsenal are still short of what Chelsea and Liverpool have spent this summer.

但尽管进行了这笔重要且巨额的投资，阿森纳的支出仍低于切尔西和利物浦今夏的花费。

Liverpool are the biggest spenders, splashing out in the region of £300million to sign Florian Wirtz, Hugo Ekitike, Milos Kerkez and Jeremie Frimpong. Chelsea have spent just over £200m on Jamie Gittens, Joao Pedro, Liam Delap, Estevao, Dario Essugo, Mamadou Sarr, and Kendry Paez. The latter are also closing in on a deal for Jorrel Hato from Ajax for a price worth more than €40million.

利物浦是最大买家，斥资约3亿英镑签下了弗洛里安·维尔茨、于戈·埃基蒂克、米洛斯·克尔凯兹和杰里米·弗林蓬。切尔西则在杰米·吉滕斯、若昂·佩德罗、利亚姆·德拉普、埃斯特旺、达里奥·埃苏戈、马马杜·萨尔和肯德里·派斯身上花费了略高于2亿英镑。切尔西还即将以超过4000万欧元的价格从阿贾克斯签下约雷尔·哈托。

Manchester United have also had their chequebook out but, like Arsenal, remain under £200m, with Bryan Mbeumo and Matheus Cunha costing them just under a combined £130m.

曼联也打开了他们的支票簿，但和枪手一样，支出仍低于2亿英镑——布莱恩·姆贝乌和马特乌斯·库尼亚让他们花费了总计略低于1.3亿英镑。

But Arsenal's spending may not be over, as another wide player could still be added. So, how much leeway do they have for further expenditure? Will it require sales? And how mindful of the Premier League's profit and sustainability rules (PSR) should they be?

但阿森纳的花费可能尚未结束，因为他们可能还会引进一名边路球员。那么，他们还有多少余地进行进一步支出？这需要出售球员吗？他们又该如何留意英超的盈利与可持续性规则（PSR）？

The Athletic takes a look...

《The Athletic》带您一探究竟...

How much have Arsenal spent?

阿森纳花了多少钱？

Arsenal's outlay on new signings, excluding any potential add-ons, is just shy of £190million.

阿森纳在新援上的支出（不包括任何潜在浮动条款）略低于1.9亿英镑。

Arrizabalaga arrived from Chelsea at the beginning of July in a deal worth £5m, with Arsenal spending an initial £48.5m to also sign Madueke from their Premier League rivals. The Madueke transfer includes the possibility of an additional £3.5m going to Chelsea in add-ons.

凯帕于七月初从切尔西加盟，转会费为500万英镑。阿森纳还花费了4850万英镑初始转会费从英超竞争对手签下了马杜埃凯。马杜埃凯的转会包含可能支付给切尔西的额外350万英镑浮动条款。

Norgaard, who has penned a two-year deal, cost £10m, while Zubimendi arrived for €65m.

签下两年合同的诺尔高花费了1000万英镑，而苏维门迪的转会费为6500万欧元。

After a lengthy negotiation with Sporting, an initial £54.8m deal for Gyokeres was agreed, with Arsenal committing to a further £8.7m in add-ons if certain clauses are triggered.

经过与葡萄牙体育的漫长谈判，双方就约克雷斯达成了5480万英镑的初始协议，如果触发某些条款，阿森纳还将支付870万英镑的浮动费用。

Mosquera, who travelled to Singapore on Monday as his transfer neared completion, joined from Valencia for about £13m.

转会接近完成之际，莫斯克拉已于周一飞往新加坡与球队会合，他从瓦伦西亚加盟的费用约为1300万英镑。

Arsenal\'s summer 2025 spending

阿森纳2025年夏季支出概览

Where does this leave their PSR position?

他们的PSR状况如何？

Arsenal's most recent set of published financial accounts, for the year ended May 31, 2024, saw them post a pre-tax loss of £17.7m, meaning it was their sixth loss-making year in a row, having previously made a profit for 16 consecutive years.

阿森纳最近公布的截至2024年5月31日的年度财务报表显示，其税前亏损为1770万英镑，这意味着这是他们连续第六年亏损，而此前他们曾连续16年盈利。

Since Kroenke Sports & Entertainment (KSE) took full ownership of the club in 2018, they have invested heavily in the squad, which has coincided with losses totalling £328.7m in six years.

自克伦克体育娱乐集团（KSE）于2018年完全控股俱乐部以来，他们一直在球队阵容上大量投资，这伴随着六年内总计3.287亿英镑的亏损。

Despite the losses, they have enjoyed significant revenue growth, owing to regular Champions League football, and posted record revenues of over £610m in 2023-24.

尽管有亏损，但由于持续参加欧冠联赛，他们的收入实现了显著增长，并在2023-24赛季创下了超过6.1亿英镑的营收纪录。

Although they have posted losses for the last six years, the club is on relatively solid footing for PSR. The Athletic previously estimated that they could lose up to £97m in 2024-25 and remain compliant with the fiscal rules.

尽管过去六年均有亏损，但俱乐部在PSR方面的基础相对稳固。《The Athletic》此前估计，他们在2024-25赛季最多可亏损9700万英镑，同时仍能遵守财政规则。

Are more signings on the way?

还会有更多引援吗？

Arsenal remain open to the prospect of further strengthening their squad if a suitable deal presents itself, although any additions are likely to be in the attacking department.

如果有合适的交易出现，阿森纳仍对进一步补强阵容持开放态度，不过任何新增引援很可能都在进攻端。

Real Madrid's Rodrygo and Newcastle United's Anthony Gordon, both left-wingers, are admired by the club, and they have also explored a potential deal for Crystal Palace's Eberechi Eze.

皇家马德里的罗德里戈和纽卡斯尔联的安东尼·戈登（两人均为左边锋）受到俱乐部的青睐，他们也探讨过签下水晶宫的埃贝雷奇·埃泽的潜在交易。

Will they need to sell to fund any further purchases?

他们需要出售球员来为任何进一步引援提供资金吗？

Arsenal had been heavy spenders for a few years, but came closer to balancing their books last season.

阿森纳过去几年一直是高支出者，但上赛季更接近收支平衡。

In the three seasons from 2021-22 to 2023-24, Arsenal's net transfer spend was £563.7m. In contrast, their net transfer spend was just £20.9m in 2024-25, as the sales of Emile Smith Rowe, Eddie Nketiah and Aaron Ramsdale offset the majority of the money spent on Riccardo Calafiori, Mikel Merino and David Raya.

在2021-22至2023-24的三个赛季中，阿森纳的净转会支出为5.637亿英镑。相比之下，他们在2024-25赛季的净转会支出仅为2090万英镑，因为出售埃米尔·史密斯·罗、埃迪·恩凯蒂亚和亚伦·拉姆斯代尔的收入抵消了签下里卡多·卡拉菲奥里、米克尔·梅里诺和大卫·拉亚的大部分支出。

After a relatively fallow year, they had greater scope to buy again this summer.

在经历了一个相对沉寂的年份后，他们在今年夏天有了更大的购买空间。

They almost certainly set a new club record for revenues from 2024-25, surpassing what they generated in 2023-24, after a successful campaign that saw them reach the Champions League semi-final.

在成功打入欧冠半决赛之后，他们几乎肯定在2024-25赛季创造了新的俱乐部收入纪录，超过了2023-24赛季的收入。

They are not pushing themselves up to the PSR limit, but if they keep signing expensive players, they will need to recoup money through sales, as would be the case for any Premier League side.

他们目前并未触及PSR上限，但如果继续签下昂贵球员，他们将需要通过出售球员来回收资金，这是任何英超球队都会面临的情况。

Arsenal also need to be wary of UEFA's tight squad-cost rules.

阿森纳还需要警惕欧足联严格的球队成本规则。

The European governing body sets a limit on the amount of revenue clubs competing in its competitions can spend on transfer fees, player wages, and agent fees. From the 2025-26 season, it will be 70 per cent. In the 2023-24 season, Arsenal's accounts show their wages-to-revenue ratio was 53 per cent. Wages will have increased since then but so have their revenues. Space has also been freed up on the wage bill from Thomas Partey and Jorginho's departures this summer.

欧洲足球管理机构规定，参加其旗下赛事的俱乐部在转会费、球员工资和经纪人佣金上的支出占收入的比例上限。从2025-26赛季开始，这一比例将为70%。在2023-24赛季，阿森纳的账目显示其工资占收入比例为53%。此后工资虽有所增长，但收入也在增长。此外，托马斯·帕尔特伊和若日尼奥今夏的离队也为工资账单腾出了空间。

And could they attract good fees for players?

他们能赚到可观的转会费吗？

Arsenal's record sale remains Alex Oxlade-Chamberlain to Liverpool for £35million in August 2017, so their track record at generating significant fees has not been great recently. Chelsea, for example, are as good at selling players as they are at buying them, having already generated more than £100m this summer in sales.

阿森纳的转会费收入纪录仍是2017年8月亚历克斯·张伯伦转会利物浦的3500万英镑，因此他们近期在创造高额转会收入方面的记录并不出色。例如，切尔西在出售球员方面和他们购买球员一样出色，今夏已通过出售球员收入超过1亿英镑。

Although they may not have to sell this window to comply with PSR, that doesn't mean they don't want to sell. The club's owners want Arsenal to be self-sufficient and want to see them make use of player trading to maximise their resources, all with a view to sustainably reinvesting as much as possible back onto the pitch.

尽管他们可能不需要为了遵守PSR而在本次转会窗出售球员，但这并不意味着他们不想出售。俱乐部老板希望阿森纳能够自给自足，并希望看到俱乐部利用球员交易来最大化资源，所有这一切都是为了尽可能可持续地将资金重新投资到球场上。

That said, Arsenal do have saleable assets. Fabio Vieira, 25, who is yet to return for pre-season after his involvement with Porto in the Club World Cup, is available.

话虽如此，阿森纳确实拥有可出售的资产。25岁的法比奥·维埃拉（在随波尔图参加完世俱杯后尚未归队参加季前赛）是可供出售的。

As reported in the Transfer DealSheet on Tuesday, they may be willing to listen to offers for either Gabriel Martinelli or Leandro Trossard if a wider player can be brought in.

正如周二的转会内幕所报道，如果能够引进一名边路球员，他们可能愿意听取关于加布里埃尔·马丁内利或莱安德罗·特罗萨德的报价。

Oleksandr Zinchenko, meanwhile, is also in the shop window but the 28-year-old has less than 12 months left on his contract, significantly limiting his value. There is a possibility that the Ukrainian will leave for nothing next summer.

与此同时，亚历山大·津琴科也进入了转会市场，但这位28岁的球员合同还剩不到12个月，这大大限制了他的价值。这位乌克兰国脚有可能在明年夏天自由身离队。

Reiss Nelson has been made available for sale, with Fulham in advanced talks with Arsenal to sign the 25-year-old winger. Having joined Arsenal's academy aged nine, any transfer fee for Nelson would count as pure profit in the club's PSR calculations.

里斯·尼尔森已被挂牌出售，富勒姆正与阿森纳进行深入谈判以签下这位25岁的边锋。由于尼尔森9岁就加入了阿森纳青训营，他的任何转会费在俱乐部的PSR计算中都将被视为纯利润。

补充报道：Chris Weatherspoon and James McNicholas