According to British newspaper Sportmail , Saka will receive a salary of 12.5 million USD per year, about 240,000 USD per week under the new contract. However, transfer expert David Ornstein revealed that Saka will receive a total of 18.5 million USD per year thanks to bonuses and other terms.

With a weekly salary of more than $350,000, the 21-year-old midfielder is currently Arsenal's highest-paid player and will pocket three times more money than his previous contract, which expires in the summer of 2024. Saka also became the second highest-paid player in Arsenal's history, behind Mesut Ozil, who earns $440,000 a week.

According to Capology - a website specializing in statistics on salaries, player contracts and club finances, signing a new contract makes Saka the eighth highest-paid player in the Premier League, equal to compatriot Jack Grealish at Man City and midfielder Casemiro of Man Utd.

The Emirates Stadium owner announced Saka's new contract on the afternoon of May 23, London time. Manager Mikel Arteta said that retaining the best young talent is "key" to Arsenal's continued progress and Saka represents an important part of the club both now and in the future.

"As well as being a fantastic talent, Saka is a special person," added Arteta. "Saka is loved by everyone and has worked hard to reach the level he is at today. Together with the fans, we look forward to enjoying Saka's development with Arsenal in the years to come."

Meanwhile, the England midfielder explained his decision to sign a new contract: "I think I have everything I need to be the best player I can be, and that's why I'm so happy to stay here and be here for the future, because I really believe we can achieve big things."

Reflecting on the past and looking to the future, Saka said: "I've seen a lot of changes. I've seen the club grow and I'm delighted that we're on the right track. It's been a long time since Arsenal played in the Champions League. I'm really looking forward to Tuesday and Wednesday nights at the Emirates, the atmosphere will be special."

How Saka has changed over the years at Arsenal

Saka grew up at Arsenal's famous Hale End training ground and made his first-team debut on November 29, 2018, replacing Aaron Ramsey in the 68th minute of the Europa League match against Vorskla Poltava. The player born in 2001 has made remarkable progress and has become a mainstay of Arsenal in the last four seasons.

Saka scored 13 and assisted 11 goals in 37 games, making him a six-man shortlist for the 2022-23 Premier League Player of the Year award. In addition to Saka, the list includes Kevin De Bruyne, Erling Haaland (Man City), Harry Kane (Tottenham), Martin Odegaard (Arsenal), Marcus Rashford (Man Utd) and Kieran Trippier (Newcastle).

Before Saka, Arsenal extended the contracts of goalkeeper Aaron Ramsdale and striker Gabriel Martinelli. In the coming time, the Emirates Stadium owner will continue to negotiate to keep center back William Saliba and captain Odegaard.

Hong Duy