Declan Rice is close to agreeing a new long-term deal Arsenal the contract, sources told BBC Sport.
The England midfielder has become a key player for the Gunners since his £105million arrival from West Ham in July 2023.
His current contract expires at the end of next season, but BBC Sport reported in March that talks over a new contract were already in development.
The 27-year-old has started more than 150 games for Arsenal and is also a key player for England, with manager Thomas Tuchel saying this week that he is one of the best midfielders in Europe.
Rice will receive a substantial bonus on top of his £240,000-a-week wages, putting him level with the club’s top-earning player Bukayo Saka, who is believed to earn around £350,000-a-week.
The news comes after Arsenal boss Mikel Arteta’s new four-year deal with the Premier League champions was announced on Tuesday.