Arsenal youngster Marcelo Flores has put pen to paper on a two-year contract with the club.
The Mexican was set to leave at the end of the season when his present deal expired.
The 19-year-old has yet to make his first team debut for boss Mikel Arteta, spending this season on loan at Real Oviedo
Mexican football reporter Fernando Cevallos stated to Fox Sports Mexico: "What we can tell you is that he has renewed for two more years with Arsenal, they have extended his contract and the priority for Marcelo Flores will be to stay in Spain for another year.
"It does not mean that he is going to stay at Real Oviedo.
“Oviedo ends the loan in the summer and will sit down to see if there is a project for him here, but the priority is to stay in Spain, there are already a couple of teams interested in [him]."
