Top 10 Best Paid Premier League Managers as Arsenal Prepare New Deal for Mikel Arteta

• Mikel Arteta is believed to be in line for a new lucrative contract at Arsenal after impressing the club's hierarchy
• The new deal will reportedly see Arteta pocket £8.3million a year and move up to fifth on the list of the best-paid managers in the EPL
• Man City boss Pep Guardiola and his Liverpool counterpart, Jurgen Klopp, remain the highest-earning managers in the division

Arsenal are reportedly planning to offer Mikel Arteta a new lucrative deal in a bid to keep the Spaniard at the club.

The Gunners have shown glimpses of improvement with a young team under the tutelage of Arteta in a spell that has left Arsenal chiefs convinced the Spaniard is the right man for the job.

The Sun reports the north London club are prepared to reward Arteta with a new contract that could see the former midfielder pocket £8.3million a year.

However, the massive wages would only make Arteta the fifth highest-earning manager in the Premier League manager - with his counterparts earning significantly higher salaries.

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Who are the best-paid managers in the EPL?

According to reports, Man City boss Pep Guardiola is currently the best-paid manager in the division, with the Spaniard banking an eyewatering £19m a year.

Fortunately for Guardiola, he is repaying the high wages with results on the pitch, with City on course to secure City a fourth league in five seasons.

Liverpool's Jurgen Klopp is understood to be the second-best paid tactician in the EPL - thanks to his equally massive wages of £16m per year.

The German is closely followed by Tottenham's Antonio Conte who was handed a £15m contract when he took charge back in November after the sacking of Nuno Espirito Santo.

Leicester City manager Brendan Rodgers ranks fourth ahead of Man United's interim boss, Ralf Rangnick.

Meanwhile, Arteta is currently believed to be taking home £5m a year, but the new deal will see him earn higher than Rangnick but still fall behind Rodgers.

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Here are the top 10 best-paid managers in the EPL:

1. Pep Guardiola (Man City)

2. Jurgen Klopp (Liverpool)

3. Antonio Conte (Tottenham)

4. Brendan Rodgers (Leicester)

5. Ralf Rangnick (Man United)

6. Marcelo Bielsa (Leeds)

7. Thomas Tuchel (Chelsea)

8. Ralph Hasenhuttl (Southampton)

9. Mikel Arteta (Arsenal)

10. Frank Lampard (Everton)