'Like a new £100m signing' - Arsenal have agreed 'exceptional' deal

Mikel Arteta's lucrative new contract at Arsenal is another sign of the market for elite-level managers "repricing" itself.

That is according to former Everton chief executive Keith Wyness, speaking exclusively to Football Insider, who believes that the Spaniard is one of only five bosses in today's game who can give the club a genuince chance to win the Premier League.

Arteta's new deal is set to keep him at the Emirates Stadium until the summer of 2030, and has also boosted his annual salary up to an eye-watering £25million.

However, Wyness is adamant that it is a necessary cost for the Gunners' hierarchy, given the "scarcity value" behind managers of Arteta's quality.

The 44-year-old led the North London outfit to their first Premier League title in 22 years last term, and has already established himself as one of the leading minds in world football.

Arsenal are well-placed to make a strong defence of their title this term, with Arteta's nous and insight set to be crucial for them once again.

Mikel Arteta deal explained in SCR terms

Everton’s former chief Wyness – who served as CEO at Goodison Park between 2004 and 2009 and now runs a football consultancy advising elite clubs – believes that while Arteta's new salary is eye-catching, it holds little difference to if Arsenal had spent big on a new player.

The Scottish businessman pointed out that in an SCR sense, Arteta's £25m salary is effectively the equivalent of amortising a £100m addition to the squad over the period of a four-year contract.

Speaking on the latest edition of Football Insider's Inside Track podcast, Wyness explained why contracts of this nature for managers will become increasingly commonplace moving forward.

"Of course, as a chief executive, I've managed to negotiate a number of managers' contracts. And it's always stuck in the back of my mind as to why managers aren't as expensive as players, because they are a very important part of this," he said.

"They're a very important cog in the machine. But I think in Arsenal's case, we're going to look at it in a different way. The whole managerial market is repricing itself. 

"You're seeing now with, (Pep) Guardiola, (Jurgen) Klopp and those sort of things, that there's probably only about five managers alive right now that have can claim to be genuinely giving people a chance to win the league. So scarcity value will lead to that repricing.

"Also, if you look at it, the £25m-a-year is basically the equivalent of the amortisation cost of a £100m signing over four years. It really isn't that exceptional in terms of the amount that the club are putting through the books."

Mikel Arteta playing huge hand in Arsenal academy

Wyness previously told Football Insider earlier this week that he "knows for a fact" that Arteta has been very involved at Arsenal on academy level in recent years.

The boardroom expert revealed that the former midfielder has played a personal hand in bringing through several of the Gunners' most recent academy graduates.

Wyness believes that Arteta has a significant involvement at all levels of the club, rather than merely just building and coaching the first-team squad.

His new deal serves as a clear reward for that influence, with Arsenal having no doubts over his credentials to remain at the helm long-term.