Emile Smith Rowe has signed a long-term deal with Arsenal and has also been given the No. 10 shirt.
Other clubs had been alerted to Smith Rowe’s potential availability while negotiations with Arsenal continued, and Aston Villa had bids of about £25 million and £30 million firmly rejected last month.
Smith Rowe has been with Arsenal since the age of nine.
“As we all saw last season, Emile is an intelligent player with excellent ability,” Mikel Arteta said. “His sharpness on the turn and exceptional vision have already made him a key player for us. His attitude and willingness to learn have also been very impressive. Huge credit to our team in our academy who have given Emile a great education and have worked superbly to help with his development through the age groups.”