THE priority for Arsenal this summer is to finalise a new contract with Arteta, whose current deal expires at the end of next season.
BBC Sport revealed last month that talks over fresh terms were shelved in order for the club to focus on the end of the campaign.
With Arsenal’s historic season now over, the process will pick up again during the summer.
Nothing is expected to be finalised before Arteta returns from holiday.
But it is understood that there was positive progress during initial conversations, amid expectation within the Emirates that it is a case of when, not if, the 44-year-old renews.
Despite this, there remains an air of caution at Arsenal, although club officials are fully focused on reaching a final agreement well before the start of next season.
Sources have told BBC Sport the new contract, which is likely to be a minimum of three years, would be worth a major increase on his current wages.
Arteta earns £10m a season, plus a further £5m upon Champions League qualification.
His new contract would make him the highest-paid manager in England following Pep Guardiola’s decision to leave Manchester City.
Guardiola’s deal was worth a minimum £20m a season. Arteta would move far closer to his compatriot’s earning power.
Recently, Arsenal co-chair Josh Kroenke made clear the club’s intention.
“Keeping Mikel around is an utmost priority and I think the good news for Arsenal fans worldwide is he’s enjoying the project,” said Kroenke.
With that project centred around Arteta’s influence, owners Kroenke Sports Entertainment know they will have to commit significant funds to ensure their manager stays on.
And with Arteta’s status at an all-time high, the Gunners boss will know his leverage is also at its peak.
Given last season’s £250m spend on new players, a number of player renewals and lucrative bonuses paid to players in lieu of their Premier League success, the club are mindful of ensuring finances are balanced during the close season.
For the forward position, three players are known to be on the shortlist – Aston Villa’s Morgan Rogers, Bournemouth’s Eli Junior Kroupi and Atletico Madrid’s Julian Alvarez.
Rogers and Kroupi are expected to cost in excess of £80m each, while Barcelona target Alvarez is being valued at more than £120m.
Any move for Rogers, Kroupi or Alvarez could be facilitated by exits in forward areas with the club open to offers for Gabriel Jesus, Gabriel Martinelli while Leandro Trossard’s deal expires in 12 months.
The future of academy graduate Ethan Nwaneri, who has returned from a loan spell at Marseille, is also unclear with the club giving serious consideration to a homegrown sale this summer, which would represent pure profit on the balance sheet.
Arsenal are also set to listen to offers for Christian Norgaard and Ben White, while Fabio Vieira and Reiss Nelson can also leave. Jakub Kiwior has already been sold to Porto for £14.7m.
A move for Rogers has been discussed, but with Martin Odegaard and Eberechi Eze, who can play in the central attacking areas, already in the squad there have been questions raised over whether a move for the England international is a priority.
Though, with Rogers able to operate from the left, it has been noted that his versatility would be an asset.
The interest in the 23-year-old is genuine, though the Gunners are not the only club in the running for Rogers with Manchester United also monitoring the forward’s situation.
Rogers, according to multiple sources, is open to joining Arsenal ahead of next season.
Kroupi is another opportunity Arsenal have explored after the 19-year-old scored 13 times in the Premier League, a record for a teenage debutant.
The club’s dream forward signing is Alvarez – though Barcelona have a serious interest in the Argentina attacker.
The club have also moved for Leicester’s teenage forward Jeremy Monga, 16, in recent weeks.
Monga is viewed as one of the leading young prospects in English football and has been courted by a host of clubs.
The teenager is understood to be open to joining Arsenal but it is unclear at this stage whether a departure from Leicester would require a tribunal.