Arsenal have completed the signing of midfielder Martin Odegaard from Real Madrid, the club announced on Friday.Odegaard, 22, spent last season on loan with the Premier League club and scored two goals in 20 appearances.- Stream ESPN FC Daily on ESPN+ (U.S. only)- Don't have ESPN? Get instant access- When does the transfer window close?Odegaard returned to Spain this summer and attempted to break into Madrid's first team but was told by new manager Carlo Ancelotti that he would face competition for a regular place.Sources told ESPN that the key breakthrough was Madrid's decision earlier this month to drop their asking price from 60 million to 45m."Well a lot of things that he brought last season. He made us better," Arteta said in a news conference. "We needed more options, more alternatives, creativity and players that can be models in this football club. I am delighted the club has made an effort and we have Martin here."Welcome høme, Martin Ødegaard pic.twitter.com/OUlG9YGDKj Arsenal (@Arsenal) August 20, 2021Arsenal needed to offload midfielder Joe Willock to Newcastle United in a deal worth £25m to help finance the Odegaard transfer and create space in the squad.Odegaard becomes Arsenal's fourth signing this season after Ben White, Albert Sambi Lokonga and Nuno Tavares joined the club earlier this summer.The club said in a statement that Odegaard, who will wear the No. 8 shirt, will not be available for Arsenal's upcoming Premier League clash against Chelsea on Sunday.Arteta said the arrival of Sheffield United goalkeeper Aaron Ramsdale was close to completion."We will see, Arteta said. "There is still some paperwork getting done. He had his medical as well mostly done. There is still some things to sort with Sheffield."