Arsenal's securing of five young British players yesterday has cost the club a massive £70 million.

The Telegraph says Arsène Wenger has spent £70 million on securing the long-term future of five of his best young British players, with a further £20 million earmarked for Theo Walcott over the next five years if he does sign a new deal.

Jack Wilshere, Alex Oxlade-Chamberlain, Kieran Gibbs, Aaron Ramsey and Carl Jenkinson have all agreed various deals that commit them to the club until either 2017 or 2018.

Talks have also resumed between Walcott and Arsenal, with the club ready to offer him virtually the same contract as Wilshere, who yesterday signed a fresh 5½-year deal worth £80,000 a week.