Arsenal to unveil Arteta as new manager on 3-year deal within 48 hours (Mail)

Arsenal will announce Mikel Arteta as their new manager in the next 48 hours.

The Gunners and Manchester City will thrash out a compensation package to release Arteta from his contract with the Premier League champions - the Etihad club are understood to be demanding in the region of £1million.

Despite the fact City have been irked by Arsenal's conduct during the pursuit of their highly-rated coach, an agreement between the two clubs is believed to be a formality.

The finer details of Arteta's contract - which is expected to run until 2023 - are being finalised, with confirmation of the Spaniard's appointment as Unai Emery's successor expected by Friday. MailOnline revealed on Monday that Arteta wanted the Arsenal job and was prepared to take it immediately.