The Gunners legend was finally ousted last summer after years of fan discontent at the Emirates Stadium.
Wenger, 69, left Arsenal after 22 years at the helm despite still having one year of his contract to run.
A number of his coaching staff, including Jens Lehmann and Boro Primorac, were also relieved of their duties, meaning Gunners chiefs had to fork out.
And the club's financial accounts, released on Monday, show Arsenal shelled out £17m for Wenger and his staff's dismissals.
£16.8m of costs were included within the club's annual wage bill.
However, Arsenal are still spending 12 per cent more on salaries this season.
Sir Chips Keswick, the club's controversial chairman, also admitted in the accounts that playing Europa League football rather than in the Champions League has taken its toll.
"We are very aware of the financial pressure which Europa League football places on the club. A return to the Champions League is a clear priority which everyone at the club is committed to delivering," he said.
Earlier this month, Arsenal revealed they would only sign players on loan this season, which may be due to the fact effects are still being felt from Wenger's mega payoff.
Speaking this week, Unai Emery discussed whether more deals would be done this week.
"I have had experience with different teams, teams like Sevilla and Valencia where usually we sold players each season," he said.
"And when I arrived at PSG it was different, because the team wanted to buy players.
"I can work with the two situations. My job is when the club do not need to buy players, but work with the players they already have, to achieve things with that group of players.
"When we have the possibility to buy different players with big quality to help us, we can do that.
"We are in one moment, but I know because the club is telling me that this moment is not good to buy players. Because it is not a good moment.
"But the club say to me in the summer it is going to be different. And we are going to have chances to spend money to buy players."
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