LONDON — Mikel Arteta has signed a new contract with Premier League champions Arsenal until 2030, declaring "this is only the beginning" of what the Gunners can achieve together. The Spaniard, appointed in December 2019, was set to see his previous deal expire at the end of this season, but his stay in north London could now stretch to a decade.
The new agreement, which BBC Sport reported earlier this month had been reached, includes an increase on his current salary of £10m per year plus an additional £5m in bonuses. Arteta benchmarked his worth against Atletico Madrid boss Diego Simeone, who is reportedly paid over £20m per year, as was former Manchester City manager Pep Guardiola. Discussions carried slightly greater urgency given the expiry date, though Arteta has been transparent about his desire to remain beyond this campaign.
"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," Arteta said. "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."
The 44-year-old has won a Premier League and FA Cup in charge of Arsenal, who are the reigning Premier League champions after winning their first title in 20 years last season. That triumph is viewed internally as just the start of a dynasty, with the gut-wrenching blow of losing the Champions League final against Paris St-Germain in May — coming within a penalty kick of a first European crown — providing huge motivation.
"We share a special bond with Mikel. We are so proud of everything we have achieved since he returned to the club in 2019," co-chairmen Stan and Josh Kroenke said. "He has a deep understanding of Arsenal's values and carries them in his heart. He knows what this club means to everyone connected to it and is committed to building on everything we have achieved together." With the foundation of their revitalisation secured, Arsenal are intent on building further history under Arteta.