Maybe Messi is worth 170k a week!
The thing with Theo... firstly let me just say I'm happy this soap opera finally ended.
As for the duration of the contract, there are two ways of viewing it:
a) a compromise has been reached, whereas Theo wants more money and sees himself earning £100k+ a week and could even be open to a move to City where he would be on around £150k I'll wager... so this way he gets a significant pay rise at Arsenal but at the same time doesn't tie himself in such a long term.
b) Arsenal doesn't want to keep him for 5 years. In fact, I have a feeling the club only renewed his contract to retain his value in the transfer market. Let's not forget he was about to go on a free. So putting it this way, it was very clever to give him a £100k a week to tie him to us for the foreseeable future. But I wouldn't be surprised if Arsenal jump at the opportunity of selling him for a £20m+ in 2014.
Remember we paid around 16 million when he was a teenager at Southampton. The club is protecting its investment and this is clearly a case of avoiding a loss IMO.
For what he's been playing, he's not worth all that money nor the hassle. But I'm on board with renewing him on those terms. Just wait 1 year or so and don't be surprised if we sell him.
As for Walcott's performances, now they will be under the magnifying glass more than ever. I think it was Gary Neville that wrote an article saying that Walcott starts almost a new career from now on. I think he was spot on by saying that.
It's time to see whether Theo can back his demands.