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Arsene Wenger says Kieran Gibbs' departure to West Brom hurt more than Alex Oxlade-Chamberlain's Arsenal exit.
Gibbs completed his £7m move to Tony Pulis' team on the penultimate day of the transfer window, which was followed by Oxlade-Chamberlain's £35m deadline switch to Liverpool.
Defender Gibbs was a product of Arsenal's youth team before breaking into the first-team at 18, and made 230 appearances in all competitions for the London outfit.
Despite Oxlade-Chamberlain making more appearances than Gibbs last season, Wenger insists losing Gibbs had more of an impact on him.
"Ideally you want stability and you want players who carry the values for the generations," Wenger said.
"When he arrived, he was a left-winger. I transformed him into a full-back because he was not necessarily rated as a guy who would make it as a left winger but I saw something in him that was very intelligent, with pace, that made me feel he could make it as a left-back.
"(Academy players) carry the values that you think are important, which are based on mental qualities, humility, respect and commitment, and as well football qualities which means you always try to play in a positive way. Plus real team play and focusing on a collective way."
Sead Kolasinac's summer arrival to the Emirates spelled the end of Gibbs' Arsenal career, after the full-back played just 11 games under Wenger last season.
Asked if Gibbs' depature felt like losing a member of the family, Wenger said: "Of course. And I believe that for (players that leave) it must be difficult to make that step as well.
"He did not ask to leave, it was a mutual decision. He wanted to play - he's 27, or 28. You want to play at that age.
"It was a difficult decision but on the other hand when a guy has given you so many years you have to accept that if he is not sure to play. "It is a fact that we have got Kolasinac, you cannot keep three left-backs (along with Nacho Monreal)."
There's no Champions League for Arsenal for the first time in 21 years, but you can watch the Gunners face BATE Borisov at the Borisov Stadium in the Europa League on Thursday, 28 September, a match which will be shown live on eir Sport 2 [kick off 6pm}
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