The Gunners boss has committed his long-term future to the club and the focus now turns to one of his main men at the Emirates Stadium.
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The former West Ham United star has withdrawn from England duty this month due to injury and that gap could offer Arsenal the ideal chance to confirm his new deal.
Rice’s current contract runs until 2028, with the club holding an option to extend it by a further 12 months, but that could be increased on to 2031 depending on now negotiations progress.
Despite Arteta's call to bring in Bruno Guimaraes over the summer, Rice's place in his plans remains unmoved, with the 27-year-old on course to break the club 200 appearance mark later this season after his £100M move from the London Stadium back in 2023.