Arsenal suffered a humiliating Carabao Cup exit after League Two side Fleetwood Town eliminated Mikel Arteta’s team on penalties following a 1-1 draw at Highbury Stadium on Tuesday night.

According to a report by Football London on Tuesday, 27 October 2026, the Gunners were unable to overcome opponents 84 places below them in the English football pyramid, despite the enormous difference in the market value of their squads.

Transfermarkt figures reportedly put the gap at £1.15 billion, highlighting the scale of Fleetwood’s achievement and Arsenal’s disappointing performance.

Arteta made nine changes to the side that defeated Everton, with several senior players rested ahead of Sunday’s Premier League trip to Liverpool. Captain Martin Odegaard, Bruno Guimaraes and Ezri Konsa were among those named on the bench.

However, the extensive rotation failed to deliver the expected result as Arsenal struggled to convert their possession and chances into goals.

Fleetwood took the lead through Aaron Loupalo-Bi, who held off Marli Salmon before beating debutant goalkeeper Illan Meslier.

Arsenal had opportunities to score before the hosts broke the deadlock, but Piero Hincapie and 16-year-old Max Dowman were unable to take their chances.

The visitors eventually equalised through Viktor Gyokeres, who finished scrappily after promising work from teenage winger Ceadach O’Neill.

The goal gave Arsenal a chance to avoid an upset, but they could not find a decisive breakthrough despite applying pressure late in the match.

Their task became more difficult when Dowman was shown a straight red card shortly before the final whistle, forcing the Gunners to continue with 10 men.

Fleetwood goalkeeper Jay Lynch then made two important saves during stoppage time to ensure the tie went to a penalty shootout.

Bruno Guimaraes missed his spot-kick, leaving Conor Haughey to score the decisive penalty and seal a memorable victory for the League Two outfit.

The result represents a significant setback for Arsenal, who entered the competition with ambitions of challenging for silverware across multiple fronts.