The 30-year-old last played for Bournemouth in the Championship, and there were slim hopes he could sign for another lower league club during the January transfer window, but he instead moved to Denmark to join Aarhus GF.
His wages though have been slashed and the midfielder, whose blistering career has been marred by injuries, will be earning around £5,000 a week.
The club’s highest earner is 28-year-old defender Frederik Tingager who takes home £6,700-per-week, according to a report by the Sun Sports.
The length of Wilshere’s deal, which will run out at the end of this season, might have played a part him accepting a low salary.
The Gunners will also be able to go into the transfer window in the summer in search of a new striker, after they got rid of Pierre-Emerick Aubameyang in the January transfer window.
The striker fell out with manager Mikel Arteta and had his captaincy stripped and was asked to train with the reserve team, before finally leaving the club.
The Gabonese striker though has wasted little time in settling into his new surroundings, after grabbing a hat-trick on his first La Liga start for the club.
Arsenal are desperate for a return to Champions League football and Mikel Arteta’s men beat Brentford 2-1 over the weekend to enhance their chances of finishing in the top four.
They are currently sixth in the league table with 42 points, same as fifth placed West Ham United, and just four points behind fourth placed Manchester United but having played three games fewer.