A frustrated Martin Odegaard said Arsenal must "step up even more" after suffering a shock early exit from the EFL Cup against League Two side Fleetwood Town.

Mikel Arteta's side were dumped out in the last 16 on Tuesday after a 5-3 defeat in a penalty shoot-out, which came following a 1-1 draw at Highbury Stadium in normal time.

Aaron Loupalo-Bi had given Fleetwood a 21st-minute lead before Viktor Gyokeres scrambled the ball over the line early in the second half to haul Arsenal back on terms. 

The game's flashpoint came five minutes from time when Max Dowman was sent off for reacting to a challenge from Harrison Neal, with the talented teenager the recipient of a stern look and words from Arteta as he left the field.

Jay Lynch proved to be Fleetwood's hero in the shoot-out, saving Bruno Guimaraes' effort from 12 yards out which allowed Conor Haughey to complete a famous victory. 

Fleetwood are just the sixth different fourth-tier side to knock out top-flight opposition in the fourth round or later of the EFL Cup and first since Bradford City in 2012-13 (three).

Arsenal's elimination by Fleetwood was only the second time in EFL Cup history that the reigning top-flight champions have been knocked out by a fourth tier opponent, along with Leeds United, who lost 3-0 to Chester City in 1974-75.

"It's very frustrating to go out," Odegaard said after Arsenal's defeat. "Obviously, the way we've played was not on the level. We need to do much, much better than we did.

"Frustrating, but congratulations to Fleetwood, and we look forward to the next game already and bounce back.

"They did well, so we have to give them credit, but I think [it] was about us not being on our level, we need to do better.

"I thought we improved during the game, but again, we need to step up even more – so that's a shame."

Full-time at Highbury Stadium. https://t.co/Bpqtbxpy69

— Arsenal (@Arsenal) October 27, 2026

Fleetwood eliminating Arsenal is also the first time a fourth-tier side has knocked out the reigning English champions in a domestic cup since Wrexham beat the Gunners 34 years ago in the FA Cup (1992), and Arteta's side are hoping to respond quickly.

However, the Premier League champions face a daunting trip to Anfield to take on Liverpool, who themselves are in EFL Cup action on Wednesday against Chelsea. 

Arsenal are winless in their last 13 away Premier League games against Liverpool (D5 L8) since winning 2-0 in 2012-13.

They have never gone 14 winless away at Anfield in their league history, also going 13 between 1975-76 and 1987-88, a run which was broken by their famous 2-0 final day victory in 1988-89 which secured the title.