Mikel Arteta to be offered HUGE pay rise by Arsenal to move closer to Pep Guardiola's £20m-a-year salary as he enters formal talks with less than 12 months left on current deal

Arsenal manager Mikel Arteta is heading into formal contract talks on course to become one of the best paid bosses in the Premier League.

The Spaniard is inside the final 12 months of his existing deal but there is confidence from all sides that an agreement for Arteta to stay will be reached.

Not only will Arteta’s pending new terms be the most lucrative Arsenal has ever offered any manager, the 42-year-old will also be propelled towards the top of the country’s best paid coaches.

Pep Guardiola earns a staggering £20million a season at Manchester City and Arsenal are ready to put Arteta’s salary closer towards that figure.

Either way Arteta will see his earnings sky rocket from his current £9million a season wage.

The former City assistant coach finds himself in a strong position to negotiate a big contract given his status as one Europe’s best young managers.

Indeed, the project he has led at Arsenal is widely viewed as one of the most exciting on the continent with the club’s operations geared towards him remaining at the helm in the long-term.

In addition to discussions over pay, all parties will also lay out their ambitions for the club moving forward as they aim to cement their place back among Europe’s elite sides.

Preliminary informal discussions over a new deal have taken place but are set to accelerate once Arteta and sporting director Edu return from their respective holidays.

Meanwhile, Arsenal are being kept updated on developments over Red Bull Leipzig forward Benjamin Sesko’s future, while Bruno Guimaraes and Douglas Luiz are among the club’s central midfield targets.

Any moves for Guimaraes or Luiz could depend on Thomas Partey leaving the club.