Adebayor, who was linked with AC Milan and Barcelona this summer, implied in June that he could leave Arsenal if the club failed to meet his financial demands.

However, it seems that the London club have reached an agreement to keep their top marksman at Emirates Stadium for a longer spell.

"Now I can tell everyone that, yes, I will sign a contract. I'm feeling very good here and at the moment my heart is with Arsenal," said the Togolese.

"I never told anyone I would be leaving this club, never ever. I'm very happy we've found a solution.

"I have three years left on my contract so I'm very happy being part of this family."

Adebayor proved to be a reliable replacement for Thierry Henry last season, as he scored 30 goals for the Gunners in 2007-2008.

Gallas Captain

Meanwhile, Arsenal boss Arsene Wenger has confirmed that William Gallas will remain in his role as team captain.

Gallas' merit to wear the captain's arm band went under scrutiny, following some childish acts last season.

However, Wenger has reinstated his fellow Frenchman as skipper for the 2008-2009 campaign.

"If he plays, he will be captain. If he does not play, it will be somebody else. But William will be the club captain, yes," said Wenger.