Die-hard Arsenal supporters have some transfer related news to celebrate this week as fan favourite Theo Walcott has reportedly signed a four-and-half year contract extension with the club.
Reports indicate that Walcott and his representatives met with coach Arsene Wenger and CEO Ivan Gazidis on Wednesday. Theo Walcott accepted a £30,000 pay rise and will now earn around £90,000 a week plus bonuses.

The new deal is worth in the region of £25M. The 23-year-old should not quit the Emirates Stadium until the 2017 summer.

The English man’s performances this season has helped many Arsenal fans to recover from the loss of ex-captain Robin van Persie. This season, Theo Walcott has provided 10 assists and scored 14 goals in 20 appearances so far. He is the Gunners’ top scorer.

Arsene Wenger has already tied up players like Jack Wilshere, Kieran Giibs, Aaron Ramsey, Alex Oxlade-Chamberlain and Car Jenkinson to five-year deals.

The Frenchman is subsequently expected to focus on scanning the transfer market this January. David Villa of Barcelona and Adrian Lopez of Atletico Madrid are the two strikers from Spain under Arsenal’s transfer radar.

Meanwhile, the Gunners’ mission to excel in the English Premier League continues this Sunday. They will host champions Manchester City with the aim of leapfrogging Everton in fifth position.