Arsenal have announced that Theo Walcott and Santi Cazorla have signed contract extensions at the club. Both players had contracts expiring at the end of this season (though Cazorla had an option for a one-year extension), and Walcott's contract talks had turned into a bit of a saga, with the club and the player looking like they would be unable to reach an agreement. Walcott, though, started the last two games of the season, and this seemed to convince him. Walcott's contract is for four years, which will take him until the end of the 2019 season. Walcott is now Arsenal's joint top-earner with Mesut Özil, with his contract worth £140k per week. There is now, of course, pressure on Walcott to live up to this deal, but if he adds consistency to his recent goal-scoring form, Arsenal will feel happy with his wages.
This is the second contract extension Cazorla has signed since he joined Arsenal in 2012. The first gave Cazorla a pay raise and added a year option to his existing contract. It is unknown how long Cazorla's contract extension is for, but it likely is for no longer than two seasons, which gives Arsenal the ability to get a decent enough fee if Atletico Madrid ever do bid, as they have long been rumoured to do, for Cazorla, and he wants to return home.