Arsenal to hold talks with Arteta on Thursday

'Sky Sports' reports that the Spaniard will hold talks with the club on Thursday, having emerged as the leading contender in recent weeks.

The talks are understood to involve chief executive Ivan Gazidis, head of football relations Raul Sanllehi, head of recruitment Sven Mislintat and several senior players, who will be playing a role in the selection process.

The Arsenal hierarchy are keen for the new man to fit into the structure in place at the club, meaning they are looking for more of a head coach.

Currently assistand coach at Manchester City, Arteta is seen as one of football management's bright, young things, but it is thought that Pep Guardiola's side would not stand in his way if he were offered a job elsewhere.

His five years spent at the club during his playing career means that the 36-year-old already has an emotional bond with the 'Gunners'.

Should he be successful, Arteta would reportedly be given £50m to spend this summer and be allowed to put his own backroom staff into place.