Fleetwood Town pulled off one of the biggest upsets in Carabao Cup history as they beat Premier League champions Arsenal in an astounding penalty shootout to reach the quarter-finals.

Mikel Arteta’s side were left shell-shocked when Aaron Loupalo-Bi gave the hosts – ranked 83 places below the Gunners in the football pyramid – an unexpected lead in the 21st minute.

Viktor Gyokeres pulled the visitors level after the break, but a wasteful Arsenal side could not put the game to bed and they were reduced to 10-men in the 86th minute when teenage starlet Max Dowman kicked out after a hefty tackle by Harrison Neal.

Jay Lynch made two sublime saves to stop Ben White and Martin Odegaard right at the death to take the hosts to penalty shootout.

And the Fleetwood goalkeeper pulled off more heroics as he stopped Bruno Guimaraes’ spot kick before Conor Haughey sparked scenes of ecstasy at Highbury Stadium by converting the winning penalty.

Fans flooded onto the pitch, players swore in their post-match interviews, while manager Matt Lawlor was reduced to tears during the emphatic celebrations.

Fleetwood will find out their quarter-final opponents when the draw takes place following the conclusion of Chelsea’s game against Liverpool on Wednesday.