Arshavin's future has been the subject of intense speculation since Euro 2008 with a number of clubs credited with an interest in the skilful playmaker.
Spurs were thought to be leading the chase for Arshavin, but the London club were unable to ag
ree a fee with Zenit.
In an interview with Russian newspaper Sovetsky Sport, Arshavin's agent Denis Lachter explained that he envisaged an offer from Zenit to keep the midfielder at the club would be forthcoming.
"I'm sure that the management of Zenit will soon offer Arshavin a contract extension," Lachter explained. "And the new conditions, I think, will be more advantageous than previously."
"If the footballer accepts Zenit's terms, he is hardly going to be going anywhere anytime soon. Even though at Tottenham the footballer would have earned more money than he possibly could at the St. Petersburg club."
Lachter also clarified the reasons for the collapse of the transfer to Tottenham and contrary to reports on Zenit's official website, he claims it was Spurs who pulled the plug on the move.
"The English club had until Wednesday to respond - either to raise the transfer fee for Andrei from 22 million to 25 million euros, as Zenit demanded, or to drop their offer," added Lachter.
"In summation, at about 16.00 the London club called me and explained that the Arshavin issue was now closed. After that I contacted Aleksandr Dyukov, president of Zenit, and informed him of the Tottenham management's decision."
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