Arsenal midfielder Declan Rice has publicly confirmed that he is set to sign a new contract with the Premier League champions.

The former West Ham United captain remains on the same terms he penned upon his arrival in 2023, and he is currently due to become a free agent in the summer of 2028.

However, the Gunners have made tying their engine room lynchpin down to an improved contract a priority, and Mikel Arteta hinted earlier this month that Rice was close to extending.

Fabrizio Romano also reported in October that Arsenal and Rice had made progress in talks over a renewal offer, and it is seemingly just a matter of time before the announcement is made.

Speaking to reporters ahead of Sunday's UEFA Nations League fixture between Spain and England, Rice dropped a major eight-word update, saying: "A new contract will hopefully be arriving soon."

Declan Rice hopeful new Arsenal deal is "arriving soon"

Rice is currently on a £260,000 weekly salary at the Emirates, according to Capology, but his new deal is expected to bump his pay up to a record £350,000 per week.

The England international would therefore become the highest-paid player in the Arsenal squad, ahead of Bukayo Saka, who is believed to be earning £300,000 per week.

Rice's bumper renewal will be just reward for the 27-year-old's seismic impact since joining in a £105m transfer, having registered 58 goal involvements in 173 Arsenal appearances.

Rice has scored 22 goals of his own while setting up 36 more in a red and white kit, and he started 35 Premier League matches during Arsenal's run to title glory last season.

The Englishman has scored one goal and set up five more in 15 matches in all tournaments this season, and he is set to make his 82nd England appearance in Sunday's clash with Spain, where a win will see the Three Lions through to the Nations League quarter-finals as group winners.

Which Arsenal players are set for new contracts after Declan Rice?

Rice is one of nine Arsenal players whose contracts expire at the end of the 2027-28 season, but not every member of that list will be in line for a renewal.

The long-term futures of Kepa Arrizabalaga, Illan Meslier and Mikel Merino are clouded in some uncertainty, and the same goes for the injury-plagued Ben White and Kai Havertz.

However, defensive stalwart Jurrien Timber - who recently delivered a Netherlands "masterclass" - is expected to be a top priority for a new deal in due course, in addition to number one David Raya.

Captain Martin Odegaard could also leave for nothing in 2028, and he recently delivered an update on his Arsenal contract situation.