The ex-Germany international agreed to a significant wage reduction in order to complete a move away from Emirates Stadium
Mesut Ozil is set to earn €3 million (£2.5m/$3.5m) a year at Fenerbahce after being paid an annual salary of €16m (£14m/$19m) at Arsenal.
Ozil signed a three-and-half year contract with Fenerbahce on Sunday after being released from his deal at Emirates Stadium six months early.
The ex-Germany international had been on Arsenal's books since 2013, scoring 44 goals in 254 appearances while getting his hands on three FA Cups, but had not played for the club since March last year.
Mikel Arteta exiled the 32-year-old, who was pocketing £350,000 per week in north London, following the Gunners' return to action post-lockdown, and he was left out of the Spaniard's Premier League and Europa League squads at the start of the new season.
Ozil was linked with several clubs amid his lengthy spell on the sidelines, but it was reported that very few potential suitors would be willing to match his wage demands.
In the end, the playmaker had to accept a huge pay cut to secure a move away from Emirates Stadium, with the details of his new contract published on the Public Disclosure Platform in Turkey.
Fenerbahce released a statement on KAP confirming that Ozil will take home €13m (£12m/$16m) less than he did on a yearly basis at Arsenal.
The Super Lig club won't start remunerating Ozil until the beginning of the 2021-21 campaign, and they will be required to pay the Gunners a €2m fee if he meets certain targets in the coming seasons.
Ozil will be unlikely to make his debut for Fenerbahce when they take on Kayserispor on Monday night, having not seen a single minute of competitive action for over 10 months. He could, however, be in line to feature when Erol Bulut's side come up against Rizespor in another domestic outing on January 30.
The former Arsenal star wrote an open letter to supporters after leaving Emirates Stadium detailing how he will always support the club and look back on his time in the Premier League fondly.
"I've grown up as an adult in North London, a place I can always call home. I'll never forget that," he wrote. "It's difficult for me to put into words the love I feel for this club and the fans. How could I possibly describe eight years of gratitude in a single letter?
"Whilst I may be no longer playing for the club, I will continue to support them in every game they play. I will be a Gunner for life - no doubt about that."