The midfielder produced a Ricky Villa-esque run that took him past three defenders and then goalkeeper Jens Lehmann only to shoot into the side-netting from a tight angle.
Such a goal would have capped an imperious display from the England international as we drew 1-1 at Highbury.
It was pointed out to Michael that he would have carved his name in Spurs folklore had he managed to squeeze the ball home not least with the circumstances of the game - the final North London derby at Highbury with both sides vying for fourth place in the Premiership.
"You don't have to remind me!" smiled Michael as he recalled the run at Spurs Lodge. "It just opened up and I don't think their boys expected me to go so far.
"Once I'd gone around a couple of players it just seemed the right thing to do to try and get around the keeper as well.
"I actually managed to get around him but he just clipped me and I stumbled a bit, the ball ran away from me and it was difficult to get it back.
"I've watched it a few times over the last couple of days and thought 'what if' but looking at it I don't think I could have done much more with the finish.
"It would have been a nice goal and under the circumstances probably remembered for a long time but that's the way it goes. I'll happy sacrifice that goal if we go on to get fourth place."
Michael Carrick is more than aware that he could have scored one of the great goals in Spurs history against Arsenal.