Arsenal set to offer Flamini a five-year contract

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The Arsenal midfielder's current deal runs out next summer and he will be free to talk to other clubs about an end-of-season move from next month.

But the 23-year-old, who moved to Arsenal from Marseille in 2004, is on the verge of being handed a lucrative new deal after proving to be a key member of the team.

Long-term contract: Mathieu Flamini is set to be rewarded for his impressive performances this season

The London Evening Standard understands that negotiations between Flamini's advisers and the club are at an advanced stage and he could soon put pen to paper on a £40,000-a-week deal. That would put him in a middle band of earners on Arsenal's payroll.

The Frenchman has turned his Arsenal career around after being on the verge of leaving the club last summer and has now established himself as Cesc Fabregas' first-choice partner in central midfield.

"I am a footballer and I want to play. I told the boss that and he said I had to prove myself. I don't think it was a gamble to stay and I've proved that," said Flamini.

"It's a big turnaround but I've been working hard so it's not a surprise to me. I'm very happy to be where I am today."

Flamini's consistent performances were rewarded last month when he made his debut for France. His re-emergence is likely to prompt Gilberto's exit from Arsenal, either next month or at the end of the season.

Despite starting Arsenal's last two games against Newcastle and Middlesbrough, the Brazilian has been pushed even further down the pecking order in recent weeks by Lassana Diarra.

Juventus and Valencia are closely monitoring the Gilberto situation and could come in with an offer for the £4million-rated midfielder next month.