Former Rangers star Mikel Arteta has “completed negotiations” to become the new Arsenal boss, according to a report, agreeing on a three-and-a-half-year deal to replace Unai Emery.

According to Football London, the Gunners hope to unveil the former Ibrox star before Saturday’s trip to Liverpool to face another of his former clubs, Everton.

MANCHESTER, ENGLAND - JULY 12: Manchester City's Mikel Arteta at Manchester City Football Academy on July 12, 2019 in Manchester, England.

(Photo by Victoria Haydn/Manchester City FC via Getty Images)

Arteta had been serving as one of Pep Guardiola’s assistants at Manchester City and the report claims City want £1million to release the Spaniard from his contract at the Etihad.

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A return to Arsenal seems to have been on the cards for a while for Arteta and the former Gunners captain will be hoping he can replicate the success he had there as a player.

The former Barcelona youngster made spent five years with Arsenal as a player before hanging up his boots and was a huge favourite with the Emirates support.

 

Freddie Ljungberg took over as interim coach for five games following Emery’s sacking, winning only once, but the Swede is likely to remain at the club in some capacity.

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GLASGOW - MARCH 8: Mikel Arteta of Rangers runs with the ball during the Scottish Premier League match between Glasgow Celtic and Glasgow Rangers held on March 8, 2003 at Celtic Park, in Glasgow, Scotland. Celtic won the match 1-0.

 (Photo by Jamie McDonald/Getty Images)

Arteta made a name for himself in British football with an impressive two-year stint at Rangers between 2002 and 2004 after coming through Barca’s famed La Masia Academy before returning to Spain for a season with Real Sociedad.

It was at Everton though that the midfielder really made an impact, helping the Toffees regularly challenge for Europe and compete with the top teams in England.

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