Arsenal could have sold Jack Wilshere for a lot of money last summer. They just loaned him to Bournemouth

Jack Wilshere has signed for Bournemouth on loan. Yes, that Jack Wilshere, and yes, that Bournemouth. How did we get here?

As Wilshere returned to full fitness at the end of the 2014-15 season, rumors popped up that Manchester City might be interested in buying him. This possibility was raised to Arsene Wenger in April, and he was defiant. “You can imagine my answer and you can send it to Sky Sports News,” Wenger said. “We are not in a position anymore where we have to sell our best players.”

The idea of City paying a big fee for Wilshere seemed completely absurd until June 2015, when Wilshere turned in a dominant performance for England against Slovenia, scoring two goals.

And the rumors came in quickly afterwards, with City linked to a £40 million bid. Presumably, Wenger made it clear that Wilshere would be going nowhere.

You probably know what came next, if you’ve been following Wilshere’s career: he got injured. He broke his leg during preseason training in August and suffered complications during his recovery. He eventually made three Premier League appearances and was picked for England’s Euro 2016 squad, but didn’t impress. Now Wilshere, in his current state, isn’t good enough to play for Arsenal. No one is willing to pay a large fee for him, either. Therefore, he’s off to rebuild his fitness at Bournemouth and prove he deserves a place at a big club, whether that’s Arsenal or a different one.

It’s a zero-risk move and incredible coup for the Cherries. It’s possible they’ve acquired a season-changing player -- the type that could turn them from relegation battlers to a top-half side -- for next to nothing. But if Wilshere isn’t any good or gets injured again, they haven’t lost much at all. It also makes sense for Wilshere -- who’s found a place where he’s almost guaranteed first choice if fit -- and for Arsenal, who need Wilshere to play as many games as possible to get him ready to play for them or pump up his sale value.

But from a pure business and results standpoint, Arsenal screwed up big time by not cashing in on Wilshere last summer. The last time Wilshere put together a full campaign without injuries that kept him out for a significant amount of time was the 2010-11 season. After four consecutive injury-plagued seasons -- one of which was lost entirely -- it was a no-brainer from a club management perspective to cash in.

Wenger didn’t do that, and whether he deserves criticism is down to what you think a football club should be. Should they try to win at all (ethical) costs? Should they always make the best strategic decision? Or should they value people, with winning titles a secondary concern? Wenger chose to value and believe in Jack Wilshere the person, who loves Arsenal, and that’s perfectly understandable. It’s heartwarming that someone like Arsene Wenger can exist and be moderately successful in the cynical modern Premier League, But that positive human quality is also what makes Wenger a fairly ineffective manager, even if he is a beloved coach, club icon and person.

Arsenal fans, players and board members really care about winning titles. They should have sold Jack Wilshere. They made a mistake. And now he’s on loan at Bournemouth.