Arsenal fans are well aware of the club’s financial constraints in recent years. However, one particular transfer that still hangs over the club is the record signing of Ivorian forward Nicolas Pepe from Lille back in 2019 for a hefty £72m.

That deal saw Arsenal pay £20m upfront, with the remaining £52m to be paid over the next five years.

As of now, Arsenal are still paying off that fee, even as rumours swirl about Pepe potentially leaving the club this summer and Arsenal possibly having to pay him off.

Pepe’s arrival at the Emirates Stadium was met with much fanfare, as the talented winger was expected to light up the Premier League with his pace, trickery, and eye for goal.

But it’s fair to say that Pepe’s time at Arsenal has been somewhat underwhelming. While he has shown glimpses of his potential, he has struggled to consistently deliver on the pitch, and his hefty price tag has only added to the pressure.

At the time Arsenal surprised everyone by spending so much on Pepe, the club were still trying to be frugal in the transfer market.

They brought in Gabriel Martinelli for £6m and negotiated a deal to pay only a small part of William Saliba’s fee in that initial transfer window.

Despite Arsenal’s insistence at the time that they did not have a restricted budget, their actions in the transfer market seemed to indicate otherwise, which is one of the reasons this deal stood out so much.

This summer, the club faces a conundrum as they continue to pay off Pepe’s transfer fee while also considering the possibility of letting him go.

The situation with Pepe serves as a cautionary tale for clubs operating on a limited budget.

Striking the right balance between securing top talent and managing finances is crucial to remain competitive in the ever-evolving football landscape.

Arsenal’s experience with Pepe may well shape their approach to future transfers, as they strive to return to the summit of English football.