Alex Oxlade-Chamberlain completes the British quintet consisting of English trio Jack Wilshere, Carl Jenkinson, Kieran Gibbs and Welshman Aaron Ramsey that have committed their future to Arsenal by signing improved, long term contracts with the North London side.
The 19-year-old only joined the Gunners from Southampton during the summer of 2011, and made an immediate impact in his first season, earning a call-up for the National side and competed at the Euro 2012 tournament for the Three Lions.
The reported amount is treble his old £15,000 a week pay package, edging him close to the £50,000 mark, a healthy package for the youngster.
Oxlade-Chamberlain expressed his happiness over the deal, he tweeted:
Delighted to have signed a new contract along with the rest of the young lads. Really looking forward to the coming years at this club! #AFC
— Alex Ox-Chamberlain (@Alex_OxChambo) December 19, 2012