Arsene Wenger on Tuesday signed a new two-year contract that is expected to keep him at the club till 2019.
The new deal will be a source of concern for most Arsenal fans who are frustrated with the team’s lack of progress despite the FA Cup win over Chelsea last Saturday.
The agreement does not include a break clause and, should it be completed, will extend his reign to 23 years.
Neither Arsenal nor Wenger, 67, see this as definitely being his final contract.
Arsenal are expected to spend at least £100m on new players in the upcoming transfer window – which opens on 1 July – having also spent around that figure last summer.
The Gunners finished fifth in the Premier League this season, the first time they have finished outside the top four since the Frenchman joined in 1996.
Wenger met club owner Stan Kroenke on Monday to determine his future, with the decision relayed to directors at a Tuesday board meeting.
An official announcement is expected later on Wednesday.