Arsenal and Ozil Set to Reach New Contract Agreement Till 2023

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Arsenal Training Session

Mesut Ozil is happy to spread out the remainder of the £8.75m he stands to earn by running his Arsenal contract down over the next three years.

The German is set to leave the Gunners this week by joining Turkish club Fenerbahce on a three-year deal. However, few clubs can afford Ozil’s £350,000-a-week wages and Arsenal stand to lose Ozil on a free transfer at the end of the season if they allow him to run down his contract.

Instead, the Gunners can pay up Ozil’s contract now but the German has reportedly agreed to allow the club to spread out the payments over the next three years, according to the Sun.

Ozil stands to earn close to £9m in the remainder of his time at the club but it’s claimed Arsenal could reduce his weekly wage to around £68,000-a-week in order to spread the payment out over the next three years.

Spreading Ozil’s wages out over a longer period would save the club around £1.2m-a-month, in a significant reduction of their monthly outgoings.

Arsenal took advantage of a government scheme earlier this week which enabled the Gunners to take a £120m loan until the summer.

The scheme is designed to help businesses experiencing cash flow problems and shines a light on the financial difficulty that the Gunners are currently in.

Fenerbahce are yet to reach a deal to sign the German but Ozil’s wish is to move to the Istanbul club. However, much will depend on the financial arrangement between the Turks, Ozil and Arsenal.

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