Arsenal have suffered significant losses to their squad value since the end of the summer transfer window.
The Gunners appeared to have strengthened significantly during the summer with the arrivals of the likes of Thomas Partey and Gabriel Magalhaes.
But Mikel Arteta 's men did not enjoy the start to the season that they envisaged, quickly slipping into the lower end of the table and looking like they might be sucked into a relegation battle.
The Gunners have since turned things around, or at least taken steps towards doing so with three straight wins, but that resurgence has not helped them when it comes to their squad value.
At the close of the summer window, the Arsenal squad was worth a whopping £568.76 million, according to Transfermarkt, the 13th most expensive squad in world football.
But amid a loss of form from a number of players, which has seen the value of many decrease, the Gunners squad is now only said to be worth £504.91million, making the best part of a £64million decrease.
The biggest loser in terms of value is Pierre-Emerick Aubameyang, who has lost more than £9million following his poor run of form since signing his new deal - scoring just three times in 15 Premier League outings, and strike partner Alexandre Lacazette has lost as much as £6.3million.
Nicolas Pepe has lost around £4.5million in value, while Kieran Tienery has lost £3.6 million, roughly the same as Mesut Ozil.
The losses have seen Arsenal drop two places in the most valuable squad list with Borussia Dortmund and Tottenham rising, while Inter Milan, Napoli and the Gunners have all fallen.
Liverpool and Manchester City continue to make up the top two spots with Bayern Munich, Paris Saint-Germain and Chelsea making up a top five which is worth a combined total of more than £4billion.
