1.40pm Arsenal transfer news LIVE: Smith Rowe NEW DEAL, Ozil to take Fenerbache wage cut, Odegaard LATEST

MESUT OZIL is taking a huge wage cut as he prepares to join Turkish side Fenerbache.

Meanwhile, Emile Smith Rowe is set to sign a bumper new contract with the Gunners after his breakthrough at the Emirates.

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Follow all the latest from the Emirates below…

  • Jim Sheridan

    GUNNERS 'BID FOR UTD TARGET MARTIN'

    Arsenal have reportedly made a loan offer for wantaway Real Madrid star Martin Odegaard.

    Sky Sports claims Mikel Arteta has approached Los Blancos over a short-term deal for the playmaker following Mesut Ozil’s exit.

    Odegaard, 22, has also been linked with Manchester United.

  • Jim Sheridan

    GUNNER STAY

    Arsenal are reportedly set to reward Emile Smith Rowe with a bumper new contract worth £40,000-per-week.

    The Gunners are keen to tie down the 20-year-old following his impressive spell of form for the first-team.

    Smith Rowe, 20, will enter the final two years of his current deal in the summer.

    But the MailOnline claim he will be offered a new contract before the start of next season.

    Smith Rowe will reportedly see his wages more than double as part of his new deal.

    The England Under-20 star currently earns £15,000-per-week at the Emirates.

    But he can expect to rake in closer to £40,000-per-week if he signs on the dotted line.

  • Jim Sheridan

    WHAT A MES

    Mesut Ozil will earn £67,000-per-week at Fenerbahce – which is 80 per cent less than he raked in at Arsenal.

    The midfielder, 32, has agreed to take a £283,000-per-week pay cut to join the Turkish giants this month.

    Ozil was paid £350,000-per-week at Arsenal despite being frozen out of the first-team.

    But AS claim he will sign for Fenerbahce on a three-and-a-half year deal worth £3.5million a year.

    The transfer will see Ozil earn just 20 per cent of what he has been used to in North London.

    He will pocket less than the likes of Cedric Soares, who earns £75,000-per-week at Arsenal.

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