After weeks of speculation, Mikel Arteta has officially put pen-to-paper on a new contract at the Emirates Stadium, tying him down to the club until the summer of 2030.
The Spaniard's contract was due to expire at the end of the current campaign, and whilst an agreement had reportedly been struck for some time, it has only today been officially announced by the Premier League champions.
Speaking after news broke, Arteta, who led Arsenal to their first top-flight crown in 22 years last term, said: "It's a privilege to commit my future to the club and to continue to work with exceptional people who want the best for Arsenal.
"This club is unique, its character and the way it makes you feel, and I have a great sense of privilege that our journey together will continue.
"We have already built a special bond and created memories that will last a lifetime, and what is so exciting is that this is only the beginning of what we can achieve together.
"I'm extremely grateful to Stan and Josh (Kroenke) for their trust and support, and feel honoured to be leading this club through such a special period in its 140-year history.
"This is such a proud moment for me and my family. I feel the love and respect from our fantastic supporters, and they have mine – and ours - in return."
Whilst the new deal will see the former Manchester City assistant coach extend his spell in North London by at least another four years, it will also result in a significant pay rise for the 44-year-old.
Find out exactly how much he is expected to earn below...
How much money will Mikel Arteta earn after signing a bumper new contract with Arsenal?
Arteta is understood to have earned around £10 million per season as part of his previous deal, with the new agreement almost doubling that amount.
According to reports, Arteta is set to earn a basic salary of around £17 million with an additional £3 million being paid in bonuses at the end of each season, based on UEFA Champions League qualification and title successes.
That equates to a basic salary of around £327k per week, which makes him, somewhat comfortably, the highest paid head coach in English football, and pulls him level with the all-time high £20 million Pep Guardiola earned with Manchester City.
The remarkable figures mean Arteta will now earn more money than Jurgen Klopp, Jose Mourinho and Antonio Conte earned during their time in English football, with all three bosses believed to have pocketed around £15 million per season.
Across the next four years, it means the Spaniard will pocket at least £68 million!
