Substitute Cole Palmer appeared to have won it for City in normal time after a fine curling finish, only for an unfortunate last-gasp Manuel Akanji own goal to earn Arsenal a 1-1 draw and take the game to a shoot-out.
The Gunners scored all of their spot-kicks while Kevin De Bruyne fired against the bar and Champions League final match-winner Rodri’s poor effort was saved by Aaron Ramsdale.
Just as 12 months ago, Erling Haaland had a quiet afternoon in this fixture but his replacement, Palmer, had appeared set to add another trophy to the brimming cabinet at the Etihad Stadium.
Arsenal had their moments and arguably got the goal their play had deserved when a late Leandro Trossard effort took a heavy deflection off the unwitting Akanji.
Fabio Vieira then converted the winning penalty in the shoot-out, handing the Gunners a 4-1 win.
The two rivals meet in Sunday’s Community Shield, the Gunners taking part after they finished second to treble-winning City last year.
Arsenal led the way for much of the campaign but lost both home and away to Pep Guardiola’s men, who have now claimed five of the last six league crowns.
“They’ve shown their consistency over the years and they merit that respect from everybody for what they’ve done,” Arteta said of his former club.
“If you want to challenge for that championship you know the total points that you’re going to be needing and that’s unheard of in this league for the last 100 years.
“So that’s the standard and, if you want to be there, you know what you have to do.”
Asked if City’s treble-winning exploits could mark the pinnacle for Guardiola’s current crop, Arteta added: “I heard that a few times in the last seven years – and they won four titles, got to a hundred points and then they go to 95.
“So I don’t think that’s the case. And knowing the manager and the people who work at the club I don’t think that’s going to be the case.”
Arteta has won the FA Cup and Community Shield since taking over at the Emirates Stadium in 2019 but now wants to show last season’s unexpected title tilt was not a one-off.
“This is what we want, to be on every front fighting for trophies,” he added.
“We have to prove that what we did last year was something, but it wasn’t enough to win the biggest trophy and the one we were looking (for).
“We have to be better and that comes every day with trying to be better, making better decisions and playing better, and deserving to win the game. In the end, the outcome will come by itself.”
Leandro Trossard’s deflected strike deep into stoppage time earned a 1-1 draw after Cole Palmer had put City in front.
Here, the PA news agency looks at what we learned from the Wembley clash on the eve of the new campaign.
The winner doesn’t take it all
While Arsenal will no doubt celebrate their success, the last three Community Shield winners have gone on to end the subsequent season empty-handed.
City have now lost this fixture for the past three years – beaten by Leicester and Liverpool before this loss to Arsenal.
However, Pep Guardiola’s men have gone on to win two Premier League titles, the FA Cup and Champions League – not a bad ‘consolation’ prize.
Unlucky 13 for Haaland
City striker Erling Haaland managed just 13 touches before making way for goalscorer Palmer with 64 minutes gone.
The Norway international had a similar struggle in this fixture against Liverpool last season, having just signed for Guardiola’s side.
He did, however, go on to score 52 goals to fire City to the treble, so maybe he just needs to get warmed up.
On the cards
After refereeing guidelines changed ahead of the new campaign, Thomas Partey and Julian Alvarez were both cautioned for kicking the ball away.
Arsenal boss Arteta also fell foul of the law changes as, after gesticulating that Rodri should have been shown a yellow card for a foul, the Spaniard instead found his own name in referee Stuart Atwell’s book.
The alterations could see a few more cards shown in the opening weeks of the season as players – and managers – adjust.
Kai leads the line
Arsenal go into the season without Gabriel Jesus after the striker underwent minor knee surgery last week.
Eddie Nketiah filled the void and scored in the Emirates Cup friendly against Monaco last week, insisting afterwards he could step up as he did during Jesus’ three-month absence last season.
However, summer signing Kai Havertz was preferred to Nketiah at Wembley and the former Chelsea man showed why, linking up well and holding up play in a manner akin to Jesus, although he had at least one decent chance to put the Gunners ahead in the first half.
Times are changing
Another change being introduced this year is the increase in time added for stoppages at the end of both halves.
It was commonplace at the World Cup in Qatar and is also being seen at the Women’s World Cup, with the extra minutes only increasing the chance of even more drama.
Trossard’s leveller came in the 101st minute at Wembley, a nasty clash of heads between Partey and Kyle Walker extending the eight minutes that had initially been signalled, and it is unlikely to be the last time we see late heroics this season.
The Lionesses will compete in their first major tournament final since 2009 after three consecutive semi-final exits over the past decade, where they will face the competition's most historically successful nation.
Yet buoyed by home advantage and a string of utterly remarkable results – including a 4-0 demolition of top-ranked side Sweden in the last four – Sarina Wiegman's side likely enter Sunday's final at Wembley Stadium at shorter odds.
Liverpool boss Klopp will see his Reds side play their FA Community Shield clash with Manchester City at Leicester's King Power Stadium on Saturday in order to facilitate the showpiece clash in north London the following day.
The German feels both his adopted home and his birth nation would be worthy winners, but that it is likely England who just shade the pair, while adding the tournament's success is great for the women's game.
"I really have to say I love women's football," Klopp stated. "It's outstanding. The quality of the tournament is insane. England are doing exceptionally well, and Germany, they've [done] really well [too].
"I think it's a really good final, [with] two intense teams facing each other. You can imagine that as much I love England, in this specific case my heart is on the German side,
"[A] sold-out at Wembley with the English crowd, it'll be a massive challenge for Germany. But I think the most important thing is the fact that women's football has shown it's a fantastic game.
"We all knew that before. Women's football over the last few years [has] exploded. It's tactically [and] technically at an incredibly high level. The intensity of the game - I love watching it. I really love watching it
"I think England are a slight favourite because of playing at home, but Germany has a chance as well and that's enough."
