Spireites sign young Gunner
The 20-year-old follows Shane Nicholson by signing a one-year contract with The Spireites.
With places at a premium in Arsene Wenger's first team squad, Bailey set about looking for pastures new in the New Year.
In January, Wycombe Wanderers handed Bailey a trial before he had a similar run out with League Two side Bristol Rovers in March.
The following month, Premiership side Charlton Athletic ran the rule over the youngster, but he was unable to impress Addicks boss Alan Curbishley with his abilities.
Bailey has since decided to take up the challenge of playing League One football with the North Derbyshire club for next season and is determined to make the most of his professional career.
"I was obviously sad to leave Arsenal, any player in the world would be. It is a great club and I made a lot of friends there," Bailey told the Stellar Group's official website.
"I wanted more than anything to make it as an Arsenal player.
"But the club made their decision and now I am really looking forward to a new start at Chesterfield.
"The manager (Roy McFarland) made me feel very welcome and, more importantly, gave me hope that I can play regular first team football if I prove myself.
"That is all the motivation I need and I now cannot wait to get started at pre-season training."
Bailey's arrival at Saltergate has been followed by the further boost that French striker Tcham N'Toya and defender Kevin Dawson have both signed new deals with the club.
N'Toya has signed a two-year with The Spireites while Dawson has put pen to paper on a new six-month contract in order to allow him time to address his lingering fitness issues that are linked to his diabetes.
McFarland was pleased to sign the pair to new contracts.
"Tcham is an exciting prospect who wants to play for Chesterfield and make a name for himself in English football," McFarland told the club's official website. "We are happy to give him that chance.
"We hope that by giving Kevin some breathing space he will be able, with our support, to overcome some fitness issues so he can play at the top of his game."
