The 19 year-old forward has left the Gunners in a permanent transfer for USL club Fort Wayne.
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He said: “I’d been at Arsenal for the past five years and played throughout the age groups there from Under-15 to Under-21.
“I’ve chosen Fort Wayne because I believe it’s the right next step for my career as it’s men’s football in a good league.
“This new project is exciting, and I can’t wait to get started.”
Oyetende spent part of the first-half of this season on-loan at St Albans.