Arsenal is set to offer Mikel Arteta a new contract with a record-breaking salary

Arsenal is preparing to offer Mikel Arteta a new contract with a substantial salary increase.

According to the Daily Mail, the London club plans to present Arteta with a significant pay rise, aiming to bring his earnings closer to those of Pep Guardiola, who earns £20 million per year.

Not only will Arteta's forthcoming contract become the most lucrative deal Arsenal has ever offered a manager, but the 42-year-old will also ascend to the ranks of the highest-paid coaches in the country.

Currently, Arteta earns around £9 million annually. With just 12 months remaining on his current contract, all parties are confident that an agreement will be reached.

Arteta has been at the helm of Arsenal since 2019. In the past season, the "Gunners" contended for the Premier League title until the final matchday, ultimately conceding the trophy to Manchester City.