Arsenal are reportedly close to agreeing a new contract with Brazilian attacker Gabriel Martinelli.

The 21-year-old has nailed down the left-wing spot in the Gunners XI during Emile Smith Rowe's injury absence and has come up with five goals and two assists in 14 Premier League games this season.

Martinelli's contributions have helped Arsenal open up a five-point gap over Manchester City at the top of the table, and he was called up to Brazil's squad for the 2022 World Cup.

As things stand, Martinelli could become a free agent at the end of the 2023-24 season, but Arsenal have been working to tie him down to fresh terms as a matter of priority.

Barcelona and Paris Saint-Germain are both said to have been tracking the former Ituano youngster, who confirmed his desire to remain in North London earlier this season.

"I said it many times, this is my club, I love to be here, I love the city, I love the club, I love everything about Arsenal. I want to stay, I'm very happy. I just need to get a pen," Martinelli told reporters in November.

According to the Daily Mail, Arsenal and Martinelli are now on the verge of reaching an agreement over an extension, with the attacker ready to commit his future to the club until 2027.

The report adds that Martinelli feels very comfortable in Mikel Arteta's project, and discussions between the two parties - which have been going on since October - are now at an advanced stage.

The South American is supposedly set to see his wages bumped up to £200,000 per week - an increase of £130,000 on his current £70,000-a-week pay packet.

Martinelli is believed to have told his advisors that he only wanted to remain at Arsenal, despite interest from the likes of PSG and Barcelona, and he is set to become one of the club's highest earners.

Since joining from then-Brazilian fourth-tier side Ituano in 2019, Martinelli has come up with 23 goals and 15 assists in 104 games for Arsenal, winning the FA Cup and Community Shield in that time.

The versatile attacker became an Olympic gold medallist for Brazil at the Tokyo Games and made three appearances for the Selecao at the 2022 World Cup, including one start in a group-stage defeat to Cameroon.

Martinelli is one of three 21-year-old players whom Arsenal are trying to agree new deals with, as Arteta's side also work on improved terms for centre-back William Saliba and attacker Bukayo Saka.

Both players are also due to become free agents in just over 18 months time, but Arteta is confident that an agreement can be struck with Saka, although Saliba's situation is slightly more uncertain at present.

Arsenal will resume their quest for Premier League glory on Boxing Day when they welcome West Ham United to the Emirates for a London derby. body check tags ::