Arsenal have formally offered Jack Wilshere a new contract - which includes a hefty pay cut.
Sportsmail exclusively revealed on December 27 that the resurgent midfielder would be offered a new deal on significantly reduced terms.
Wilshere's current basic wage is in excess of £90,000-per-week plus lucrative bonuses that can take his earnings to £120,000-per-week.
But Arsenal have offered Wilshere a basic wage of £80,000-per-week.