“I have to take some time,” the Spanish midfielder told the club’s official website. “I’m 99 per cent sure I will stop playing football.
“I have different options now to continue in relation to this magnificent sport.”
Arteta made his farewell appearance for the Gunners on Sunday as they saw off bottom club Aston Villa 4-0 to pip rivals Tottenham Hotspur to an unlikely second-placed finish in the Premier League.
The club captain—whose contract ends this summer—almost signed off his Gunners career with a goal, but was denied by Villa goalkeeper Mark Bunn, who deflected the 34-year-old’s effort over the line and was credited with an own goal.
Arteta moved to North London in 2011 after ending his six-year spell at Everton.
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While he has been unable to win the Premier League title with the Gunners, he has earned immense respect for his playing style and leadership, winning the FA Cup in 2014 and 2015.
This season, injuries have taken their toll on Arteta, who has managed just 162 minutes of EPL action. The former Glasgow Rangers and Real Sociedad man has not started a single game in the league this term, coming on as a substitute on nine separate occasions.