Theo Walcott has confirmed on Twitter that he has signed a new four-year contract with Arsenal.
The deal is worth around £140,000-per-week according to BBC Sport which takes him up until 2019 with the Gunners. Walcott is believed to have finally agreed to the contract last night after lengthy talks.
Arsenal have also announced that Spanish playmaker Santi Cazorla has penned a contract extension to keep him in north London for another two years.
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Walcott was about to enter the final year of the £90,000-per-week contract he signed in 2013, but boss Arsene Wenger has moved to tie him up as his team gear up for a title tilt in the upcoming campaign.
The 26-year-old, who joined Arsenal from Southampton in 2006 in a deal worth £12.5 million, has scored 50 league goals in 208 appearances.
He missed a large portion of last season through injury, and he managed just four Premier League starts.
"Both are top-quality players who are hugely important and influential to our squad," said Wenger. As well as their huge contributions on the pitch, they both have a great deal of experience and are very popular off the pitch."
Walcott returned strongly from his injury setbacks last season, bagging a first-half hat-trick against West Brom and scoring the opener in the FA Cup final against Aston Villa.
Walcott is now Arsenal's longest-serving player and deserved a new deal, however the money seems a little generous, even if that is the 'Wenger way' - it works out at close to £30 million across the entire contract.
He is right up there with the highest earners at the club including Alexis Sanchez and Mesut Ozil - and now he must prove he belongs in that category alongside those world class stars. He hasn't done that during his time at Arsenal so far but he's entering the prime of his career so needs to start producing the goods.
Key to that could well be the fact he's in with a chance of getting some time playing up front this season which is what he's asked for in the past. If he can get goals as a back-up to Olivier Giroud it will do Arsenal's title chances no harm at all.