According to a report by ESPN on Tuesday, October 27, 2026, League Two side Fleetwood Town produced a historic Carabao Cup upset by eliminating Arsenal on penalties after holding the reigning Premier League champions to a 1-1 draw in the fourth round.

The result made Arsenal the first reigning Premier League champions to be knocked out of the League Cup by a fourth-tier club.

ESPN FC highlighted the magnitude of the upset in a post, writing: “The first reigning PL champions to be knocked out of the League Cup by a League Two side”

The difference in resources between the two clubs was reflected in their reported squad valuations, with Arsenal’s squad worth €1.4 billion compared with Fleetwood’s €2.8 million.

However, at Highbury Stadium, Fleetwood, who sit 18th in League Two, matched their more illustrious opponents before showing greater composure in the penalty shootout.

Aaron Loupalo-Bi gave the hosts the lead before Viktor Gyökeres restored parity for Arsenal. The Gunners faced an additional setback late in the second half when teenage forward Max Dowman was sent off, leaving them to complete the match with 10 men.

Neither team managed to score a winner during regulation time, forcing the contest into a penalty shootout. Fleetwood converted all five of their attempts, while goalkeeper Jay Lynch saved Bruno Guimarães’ spot-kick.

Nineteen-year-old defender Conor Haughey then converted the decisive penalty to seal a 5-3 shootout victory and send Fleetwood into the next round.

The winning kick sparked wild celebrations among Fleetwood’s players and supporters, with fans spilling onto the pitch to celebrate a victory that will rank among the greatest achievements in the club’s history.

For Arsenal, the defeat brought their League Cup campaign to an extraordinary end and left their heavily rotated lineup at the centre of an unwanted piece of football history.