The Daily Mail have said that Tomas Rosicky turned down big-money moves to Russia and China, and hose to stay in North London.
"Arsenal let me get to the point where I had just half a year on my contract and could talk to anyone I wanted. It started to get interesting because I had very lucrative offers. This turned my head a little, but I have to say that Arsenal were my priority.
"In both cases it was financially huge numbers, so that somehow you had to entertain it, it's not easy. Some days I thought about it, but money is not everything, I'm glad I'll be able to continue at Arsenal."
The Czech maestro also insisted that his late run of form was not why he was offered the new contract.
"It had nothing to do with it. I am healthy, I play in the centre of the field and have rhythm from regular games. That is all together very important.
"When you play once a fortnight, it is difficult. I know I cannot handle all the games of the season, but the rhythm, being involved at least once a week is very important. And anyway, I had given my word to the coach that I would stay."
Speaking to the club's official website, Arsene Wenger said he was delighted with the new deal.
“I’ve always been a big admirer of Tomas’ abilities and am delighted he’s chosen to commit his future to the Club. I believe he is an exceptional player, a natural footballer who is technically top class. He plays the style of football we champion here and shares completely our philosophy. He is always ready to work for the sake of the Club, always willing to put the team first. I have huge respect for him.”
In other news, there are reports suggesting that Arsenal could be lining up a bid for Fulham's Moussa Dembele. According to talkSPORT, Liverpool and Tottenham are also in the race for the Belgian star, who is in impressive form at Craven Cottage.
The Sun reckons that Andrei Arshavin wants to return to Arsenal, once he finishes his loan-spell at Zenit St. Petersburg. The Russian will need to perform well during his loan spell, if Arsene Wenger - as well as the fans - are going to take him back.
Sticking with Russia, mega-rich Anzhi Makhachkala are ready to make an offer for Nicklas Bendtner. The Danish striker, who's currently on-loan at Sunderland, is unlikely to remain in the North-East.
According to the Daily Star, Lukas Podolski has already had his medical and his move from Cologne to Arsenal is virtually guaranteed. The Gunners are also preparing a bid for Mario Goetze. Borussia Dortmund have slapped a hefty £30m price tag on their 19-year-old star.
Gunners striker Park Chu-Young has had his compulsory military service in South Korea delayed for 10 years. Park will now be able to play on until 2022, when he will be required to return to his homeland and serve for his country. All able-bodied South Korean men must serve 2-3 years in the military.