For years, Arsene Wenger was notoriously tight with the Arsenal pursestrings. While other managers were complaining about being left behind by other club's wage structures, Wenger was determined to keep control over Arsenal's wage budget.
As a result, fans had to get used to hearing that X player wasn't moving to Arsenal because he didn't fit in with their wage structure. Then, things began to change. While Arsenal may not be the biggest spenders in the Premier League, their willingness to pay top dollar for talent has certainly increased in recent years.
The signings of Mesut Ozil and Alexis Sanchez saw Arsenal move in line with the top European clubs by shelling out hefty wages (in the region of £150,000 a week) for top talent. However, it seems the breaking of the wage structure of the Emirates has had some knock on effects.
Theo Walcott, a player who has seemingly never really lived up to his potential, has today signed a new four year deal worth £140,000 a week.
— Theo Walcott (@theowalcott) July 31, 2015
Walcott was holding out on signing a new deal amid rumours that he was looking to brought in line with the club's top earners. Although it's debatable if Walcott would even get in Arsenal's first choice eleven at the moment, the club have nonetheless decided to offer him the big bucks to prevent losing him for nothing in 12 months time.