Spanish manager Mikel Arteta has agreed a bumper new contract with Premier League champions Arsenal, with Arteta’s present deal expiring at the end of this season but talks over a new contract have been ongoing for a number of months.
It was reported earlier this month that an agreement between all parties was close.
And it is now understood Arteta has reached a final agreement with the Gunners to extend his stay.
There is no confirmation over the length of his new contract but it is set to take him into at least his 10th year at the club following his arrival in December 2019.
The new contract will also include a sharp pay increase from his current salary of £10m per year plus an additional £5m in bonuses.
Speaking about his contract talks, Arteta said last week that fans did not need to “worry” because he wanted to stay.
“I’m extremely happy and I feel very grateful to work with the people I work with,” he said.
Arteta wants to build a dynasty – analysis
News of Arteta’s agreement over a new deal at Arsenal won’t come as a shock – but it is a major development nevertheless.
The fact his existing deal expires at the end of the season did put a slightly greater emphasis on the speed of discussions than normal.
But Arteta has been transparent about his desire to stay at the club beyond the end of this campaign.
Dynasty building is what has driven Arteta’s decision. Winning Arsenal’s first Premier League title in 20 years last season is viewed as just the start.
Coming within a penalty kick of winning their first Champions League trophy came as a gut-wrenching blow – but also a huge motivation.
With that in mind, there was never a sense Arteta was preparing to walk away from the team he has built to become one of the best in European football.
