By Editor Wayne Veysey | Former Evening Standard, Press Association and Goal chief correspondent with 17 years experience of breaking big stories, including exclusives like this

Follow us on Twitter @footyinsider247

Arsenal are close to agreeing a new contract with rising star Alex Iwobi worth a total of £5.2million, Football Insider sources understand.

The Gunners are in advanced talks with the 19-year-old midfielder about an improved deal as a reward for his breakthrough into the first-team.

A well-placed Arsenal source has told Football Insider that discussions are centring on a five-year agreement worth around £20,000-a-week, totalling £5.2million.

The source said fresh talks took place during the international break and all parties are confident that the structure of a deal is now in place.

This will hand the teenager a huge pay rise and will bring him into line with the other emerging players at the north London club.

Iwobi is establishing himself as a key member of Arsene Wenger’s side after scoring his second goal in only his second Premier League start in the 4-0 Premier League win against Watford on Saturday.

The Nigerian attacking midfielder, who only signed a new deal at Emirates Stadium last October, has forced senior trio Olivier Giroud, Theo Walcott and Joel Campbell out of the team in the last three matches.

In other Arsenal news, it has been confirmed that the Gunners have tabled a contract offer to Paris-Saint Germain star Zlatan Ibrahimovic ahead of the summer transfer window.