Arsene Wenger says handing Mesut Ozil a new contract was the “cheapest option” available to Arsenal.
As reported by Goal on Wednesday, Ozil has committed his future to the Gunners by inking a contract extension until 2021.
It is being widely reported that the 29-year-old has become the highest paid player in the club's history as a result, with speculation his wages have risen from around £140,000-a-week to £350,000-a-week.
But Wenger believes sourcing a replacement for Ozil - who had entered the last six months on his previous contract - would have proven costlier.
“When you let a player go you have to buy somebody of the same calibre and if you add the transfer needed and the wages will be similar,” Wenger said.
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“On top of that we have to pay a transfer [fee].
“So, overall I think Mesut for us was the cheapest option. On the other side, all of our players are well paid. Very well paid. To feel sorry for them - I'm not sure that it's the most objective assessment.”
Ozil's new contract completed a remarkable few days for Arsenal following the earlier arrivals of Henrikh Mkhitaryan and Pierre-Emerick Aubameyang.
Both Ozil and Mkhitaryan are expected to feature as the north Londoners take on Everton in the Premier League on Saturday.
Aubameyang, however, faces a late fitness test for the match at the Emirates Stadium due to being ill over the past couple of days.
