The Gunners hope to agree with Arteta this week, subsequent to holding converses with the 37-year-old.
The Spaniard faces a tremendous undertaking, as Arsenal have won just once in their last 12 apparatuses and are seven focuses behind fourth-put Chelsea in the Premier League.
During the gathering with overseeing chief Vinai Venkatesham and agreement moderator, Huss Fahmy, Arteta purportedly talked about potential exchange focuses alongside the bearing he needs the group to move in.
Yet, he was told by Arsenal boss that he will have "constrained assets" to work with one month from now.
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