Calm down, Arsenal fans. There is no need to panic just yet.

Okay, we know that 3-0 defeat at the hands of Brighton was a disastrous day at the office, but provided that isn't a regular thing, the Gunners will be right as rain.

After all, prior to that loss on the south coast, Arsenal had won all seven of their matches this season. There was talk of them going invincible again.

While that won't happen, there are still plenty of reasons to be positive. The latest reason concerns Mikel Arteta. The gaffer has signed a new contract at the Emirates Stadium.

Why Arteta's new contract is so important

Earlier this year there were murmurs that the Spaniard might fancy a go at Barcelona. Truth be told, who wouldn't?

Arteta came through the academy at Barca and clearly still holds the Spanish side close to his heart. Yet, his project in north London is only just getting started.

Come December, the 44-year-old will have been Arsenal manager for seven years. He is the longest-serving head coach not just in the Premier League but across England's top four divisions.

It took him a while but he has finally conquered the Premier League. The Gunners hadn't won it for 22 years but that long drought is now over.

Without Arteta, it would not have been possible. He walked into the club after the turgid era of Unai Emery, after the laboured final years of Arsene Wenger's tenure.

He has inspired a remarkable amount of change. The squad he inherited is unrecognisable to now. From the likes of Shkodran Mustafi and Sokratis at the back to William Saliba and Gabriel Magalhaes, the difference is chalk and cheese.

Sure, the attack still needs some work, but Arteta has proven that when it comes to putting together a defensively sound team, there isn't a better manager out there. The club's backline is the best in the land, even if they did ship three times last time out.

In all honesty, this feels like the most important deal Arsenal will seal all year.

Why the Kroenkes need to give Arteta more help

Speaking after the Champions League final, Arteta said: "We [will] start to make some very important decisions if we want to reach another level. And we're going to have to show that ambition because we are more than capable of doing it, but it's going to demand to be very, very ambitious, very fast and very smart."

Well, the Kroenkes and Andrea Berta were not ambitious enough over the summer. While they targeted one of football's biggest stars in Vinicius Junior, they ultimately failed to get a deal over the line.

The same can be said for Morgan Rogers. He was Arteta's top target. He had even spoken to the player. However, Berta dilly-dallied as he tried to reduce the price.

Rogers was very willing to come to north London but he ultimately ended up in the west part of the capital. Chelsea paid a £117m fee, a price the champions simply weren't willing to part with.

Was it a lack of ambition? Perhaps. Either way, it was probably smart not to cough up such an amount with time left in the window to do other business.

You do wonder, however, whether they could turn back time. Despite the departures of Gabriel Jesus, Leandro Trossard and Gabriel Martinelli, Christos Tzolis was the only new attacker to arrive. Arteta's side is worse off as a result.

So, Berta and Co have some making up to do.

Arsenal's next big deal is already in the pipeline

Heading into 2027, the priority is clear; Arsenal simply have to sign one or two new forwards.

There is an admiration for Julian Alvarez at Atletico Madrid, while Eli Junior Kroupi is reportedly a player the club really like. David Ornstein said as much over the summer.

That's priority number one, so what's the next task? Well, as well as tying Arteta down to a long-term contract, it would be a good idea to tie down their key players too.

Last season, Bukayo Saka penned new terms to the tune of £300,000 a week and it would not be a surprise if Declan Rice was also given a similar amount if and when he signs a new contract.

There is great news for supporters and Arteta in that regard. Indeed, according to reports from TEAMtalk this week, discussions are underway with Rice regarding a new contract.

The club are attempting to push through fresh terms for their star midfielder ASAP, and it is no surprise to see why.

Speaking just days after winning the Premier League title, Josh Kroenke revealed that the arrival of Rice was a "big moment" for the project.

As the co-owner further said: "If you pay that price tag, it can't just be for a talent on the pitch. You need to be getting a plug-and-play player and you need to have a leadership ability off [the pitch]."

Well, that sums up precisely why sorting out Rice's long-term future is just as important as Arteta's new deal.

Together, they feel like they are the two biggest parts of the club. While Arteta inspires change from the sideline, Rice is the leader on the pitch. He may not be the official captain but he is the player you see more than most barking orders and encouraging his teammates.

That's not to mention his technical and physical qualities either. He is a running machine, a monster in the middle of the park. But, he's also capable of coming up with magic moments. It is hard to forget those two free-kicks in the Champions League quarter-final against Real Madrid.

In time, there is a sense that Rice will become captain. He's too good a player, too good a leader not to wear the armband more regularly.

A new deal in the forthcoming weeks or months will be the first step towards him realising that dream.

Alongside Arteta, the project is in safe hands with Rice treading the Emirates Stadium grass.