Mikel Arteta and Edu correct Serge Gnabry mistake as Arsenal generate £62.7m in transfer fees

Arsenal have the joint-third most profitable youth academy in the Premier League since July 2015, new data shows.

Thanks to new figures released by the CIES Football Observatory, the Gunners' business in terms of outgoings over the past six and half years has been put under a microscope and it actually outlines the progress Mikel Arteta and technical director Edu have made in a short space of time.

In this period, Arsenal have earned €75m (£62.7m) through selling academy graduates, putting them level with Chelsea and just behind Manchester City in the standings, although the trio trail Liverpool who have recouped €131m (£109m).