Arsenal’s decision to sell Gabriel Martinelli to Al-Hilal for a fee reported to be worth up to £60 million has intensified scrutiny of the club’s failure to sign Antoine Semenyo earlier this year.
The Brazilian winger’s departure, confirmed after the summer transfer window closed, leaves Mikel Arteta’s squad short of attacking depth until January. Al-Hilal have agreed a four-year contract with Martinelli, who scored 62 goals during his Arsenal career.
Martinelli’s exit also highlights what could prove to be a costly missed opportunity. Arsenal could have signed Semenyo from Bournemouth for £65m when the Ghana international had a release clause in his contract.
Instead, Semenyo moved to Manchester City in January after Pep Guardiola’s side activated the clause. He finished the campaign with 21 goals for Bournemouth and City combined, matching Viktor Gyokeres’ total for Arsenal in all competitions.
Arsenal’s missed chance to sign Antoine Semenyo
Semenyo would have offered Arsenal a direct replacement for Martinelli, while also bringing greater physicality and versatility to the attack. The 26-year-old has largely operated from the left but is capable of playing across the forward line.
His subsequent move to Manchester City has made Arsenal’s earlier hesitation appear increasingly questionable. City described Semenyo as one of the Premier League’s most sought-after attacking players when confirming his arrival on a five-and-a-half-year contract.
There was interest from Arsenal at the time, although reports suggested the club wanted to complete a sale before committing to another major attacking signing. That explanation now looks less convincing given the scale of the spending the club were reportedly prepared to consider for players such as Vinicius Junior and Julian Alvarez.
Had Arsenal paid Semenyo’s £65m clause and later sold Martinelli for £60m, the net cost of upgrading the left side of their attack could have been only around £5m. Instead, they have lost an established forward and will return to the market in an environment where comparable players are commanding significantly higher fees.
The club also missed out on Morgan Rogers, who joined Chelsea from Aston Villa in a deal reported to be worth £117m. Arsenal’s failure to move decisively on Rogers and Semenyo has left them facing the prospect of paying a premium for reinforcements after allowing their preferred options to move elsewhere.
Arsenal will now have to manage without Martinelli until the winter window opens on January 1, 2027. The deadline for Premier League clubs to complete their mid-season business is February 1.
The situation is a reminder that careful financial planning can become counterproductive if it prevents a club from acting at the right moment. For Arsenal, the choice not to sign Semenyo could ultimately be remembered as one of the defining transfer errors of the summer.
