Arsenal are reportedly preparing to offer Mikel Arteta a new three-year contract to remain as manager, with his current deal expiring in June 2023.

Arsenal are reportedly preparing to offer Mikel Arteta a new three-year contract to remain as manager.

The 39-year-old, who will see his current deal at the Emirates Stadium expire in June 2023, remained tight-lipped over potential talks of an extension when speaking to the press ahead of Thursday's Premier League clash with Wolverhampton Wanderers.

However, The Sun reports that Arsenal owner Stan Kroenke is confident that Arteta is the right man to steer the club forward and is willing to negotiate a new and improved three-year deal with the Spaniard.

The report adds that Arteta's new contract would see his current yearly wages increase from £5m to £8.3m, the same amount that former boss Arsene Wenger was earning before he left the club in 2018.

In comparison to other Premier League managers, Arteta proposed new contract would still see the Spaniard earning far less than the likes of Manchester City's Pep Guardiola and Tottenham Hotspur's Antonio Conte, who are currently pocketing £20m per year and £15m per year respectively.

Arteta, who has won the FA Cup and Community Shield since joining the club in December 2019, sees his Gunners side sitting in fifth place in the Premier League, four points off the top four with three games in hand.

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