Alex Iwobi has agreed a new deal with Arsenal.

The Sun says the Gunners academy product has snubbed interest from Lazio and will sign a new five-year contract worth around £70,000-a-week.

The 22-year-old will put pen to paper when the squad return from their pre-season trip to the Far East after their game against Paris Saint-Germain on Saturday.

Talks over a new deal began last December, despite the Nigerian international penning a five-year deal in October 2016.

Arsenal wanted a new deal agreed before the World Cup, however, talks went on the backburner while the club looked to replace Arsene Wenger.

Talks with new boss Unai Emery have been positive and Iwobi has been assured he will be part of the Spanish coach's new regime in North London.