Keep telling yourself that if it helps you sleep at night. Like his mate Xabi in Leverkusen, he still feels he's got work to do at Arsenal and is on an upwards curve. But I bet you any money, he'll be back at City once his mentor Guardiola has fucked off, probably in 12 months' time.
Im telling you right now. Arteta is set at Arsenal and would not be moved by the Man City job. Pep said so himself, when Arteta was assistant at Man City, and Man City scored against Arsenal, Arteta never celebrated.
Arteta is a former player of Arsenal who captained the club. If Gerrard were at Liverpool doing really well, would he leave for the City job? If Lampard were at Chelsea doing well, would he leave for the City job? But apparently Arteta would.
Im telling you, your finger is way of the pulse with this one. Arsenal is Arteta's northstar. Moreover, I dont see Man City as some kind of Bayern Munich type club who can cherry pick the best of their rivals. As far as I am concerned, they are benefitting greatly from having Pep as manager, and there will be a fall off in the post Pep era.