Arsenal set to offer manager Mikel Arteta huge pay rise, making him one of the best-paid coaches

Mikel Arteta, the manager of Arsenal, is on track to become one of the highest-paid managers in the Premier League as he enters formal contract negotiations.

Arteta has done some tremendous work at Arsenal, leading them to compete for the Premier League in two consecutive seasons.

The Spaniard is nearing the end of his current contract, but the club is optimistic that a solution will be found to keep Arteta.

Arteta and Arsenal's new contract

Arteta's upcoming new contract will not only be the highest paid to any manager that Arsenal has ever offered, but it will also rocket the 42-year-old to the top of the list of the highest-paid managers in the nation.

According to Daily Mail, Arsenal is prepared to match Pep Guardiola's astounding £20 million season contract at Manchester City with Arteta's pay.

Arteta will see a sharp increase in his pay from his present £9 million season wage. Given his standing as one of Europe's top young managers, the former City assistant coach is well-positioned to negotiate a lucrative contract.

With the club's operations designed to support his long-term leadership, the project he has overseen at Arsenal is, in fact, widely regarded as one of the most exciting on the continent.

As they work to re-establish the club as one of Europe's top teams, all parties will debate issues related to compensation as well as future goals.

Informal negotiations for a new contract have begun, but once Arteta and sporting director Edu get back from their respective vacations, things are expected to pick up speed.