Arsenal had the 10th largest wage bill in Europe last season according to data released by UEFA, paying out over £50 million less than Chelsea.
The 2020-21 campaign ended in disappointment for the Gunners as they failed to qualify for any form of European competition.
But those performances were not reflective of the club's spending, with £153 million splashed on player wages and a further £72 million spent on other wages.
Mikel Arteta had a bloated squad at his disposal throughout the season, with the likes of David Luiz, Hector Bellerin, Dani Ceballos and Willian remaining on the books on large wages.
All four were shipped out in the summer of 2021 but with the likes of Pierre-Emerick Aubameyang and Alexandre Lacazette remaining, the Gunners' wage bill remained high.
The Gabon striker had been on a reported £350,000-a-week at the Emirates before his contract was terminated last week, allowing the striker to secure a move to Barcelona.
Arsenal were reportedly made to pay Aubameyang £7 million in order to cancel his contract and allow the striker to move to Barcelona. It is not yet known whether that £7million payment will count towards this season's final wage tally or not.
Either way, it means at the end of next season - Arsenal's first without Aubameyang since 2017-18 - the Gunners will shave £18.2 million from their bill, by getting rid of the striker alone.
As these figures only account for the 2020-21 season, it will be a while before we find out the impact last summer's significant overhaul has had.
Ben White, Aaron Ramsdale, Martin Odegaard, Takehiro Tomiyasu, Albert Sambi Lokonga and Nuno Tavares all arrived for over £140 million.
But being younger players, it is likely they will be on significantly lower wages than the likes of Aubameyang and Lacazette.
The UEFA wage table was topped by Barcelona last season which, given the summer drama that saw them forced into letting Lionel Messi leave for nothing, is maybe not too big a surprise.
Manchester City came in second having spent £330 million on player wages and £102 million elsewhere.
Real Madrid and Paris Saint-Germain followed close behind before Liverpool, Bayern Munich, Manchester United, Chelsea and Juventus complete the clubs ahead of the Gunners.
