Arsenal Football Newsletter
Nwaneri’s current deal is due to expire next summer but talks over fresh terms are now at an advanced stage.
The 18-year-old has been linked to Chelsea but is expected to put pen to paper on a new four-year contract in what will be a major boost for Arsenal.
Nwaneri has just enjoyed a breakthrough season with Arsenal, scoring nine goals in all competitions.
Nwaneri celebrates scoring in Arsenal’s 7-1 win at PSV in the Champions League last season
He was their fifth highest scorer and appeared in 37 matches last season, the fourth highest of any teenager across Europe’s top five leagues.
Arsenal had made tying down Nwaneri to a new contract one of their priorities going into this summer, along with renewals for Bukayo Saka, Gabriel, Myles Lewis-Skelly and William Saliba.
New deals have been sorted for Gabriel and Lewis-Skelly, with Nwaneri now set to follow.
Nwaneri played as a right No8 in midfield last season, acting as competition for Martin Odegaard, while he also deputised out wide in the absence of Saka.
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“Ethan can play as a right attacking midfielder, a left attacking midfielder,” said Arteta last season. “He can play as a right winger and there is another position I think he can develop into - No9.
“He has got the goal in front of him and he looks at the goal and he has a tremendous ability to put the ball in the back of the net.”
Nwaneri wore the No53 shirt last season but has taken up a new number for the upcoming campaign.
The teenager will wear the No22 shirt, which is now free after David Raya dropped it to take the No1 jersey.