Martin Keown believes Mesut Ozil's new contract has countered the loss of Alexis Sanchez's move to Manchester United.

Arsenal have also brought in Pierre-Emerick Aubameyang on deadline day whilst Henrik Mkhitaryan's move to the Emirates was part of the swap deal with Sanchez's exit.

Keown told the Daily Mail: "It is great news for Arsenal. For the fans, it will almost feel like another new signing.

"Arsenal are in their lowest league position since negotiations with Ozil began and this could be a massive show of loyalty from the player.

"Arsenal need him more than ever- and to keep him happy Arsene Wenger is going to have to buy the right players in the summer."

Ozil's contract extension is reportedly worth £350,000 a week and will run until 2021.