The contract will keep the Norwegian at the club at least the summer of 2028 but there's no option to extend it further.
According to The Athletic, the 24-year-old has now become the highest-earning player at the club, overtaking Bukayo Saka.
Odegaard has done a lot to deserve his new wages of over £195,000-a-week, becoming Arsenal's new captain under Mikel Arteta.
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