Arsenal are reportedly drawing up the paperwork for Pierre-Emerick Aubameyang's new contract.

With less than a year remaining on his existing deal, the Gabon international has been in talks about a renewal and is expected to commit his immediate future to the Gunners.

While there has been talk that an announcement is imminent, club officials must go through the process of finalising the terms which have been verbally agreed by the versatile attacker.

However, according to the Daily Mail, the latter stages are likely to be a formality with both parties wishing to get a deal over the line.

With 70 goals being scored from 109 appearances, Arsenal are allegedly prepared to hand the 31-year-old a contract worth £250,000 per week.