Mikel Arteta set for the big bucks! Arsenal to make Spaniard one of Premier League's best-paid managers with bumper pay rise

The Gunners boss, who enters the final year of his existing contract, is all set to be offered a new long-term deal, according to the Daily Mail. The report further claims that the North London club will substantially increase the manager's wages which will make him one of the highest paid coaches in the Premier League.

Manchester City boss Pep Guardiola earns a whopping £20m (€23m/$25m) which makes him the highest-paid manager in the English top division. The new deal, however, will see Arteta earning close to the figure which Guardiola currently pockets. The Arsenal coach's present wages stand at £9m a year.

The former Spain international has transformed Arsenal into a world-class unit that narrowly missed out on the Premier League title this season, finishing second behind the Cityzens. Arteta was recently named the Best Premier League Coach at the Global Soccer Awards.

The club are yet to hold a formal discussion with the 42-year-old coach but talks are set to begin once he, along with sporting director Edu, return from their holidays.