Arsene Wenger is on the cusp of signing a new deal with Arsenal, according to multiple reports, with the manager believed to be satisfied with staying on his current wage but earning bonuses for winning trophies.
With Gunners fans in good spirits this season on the back of the club breaking their transfer record to sign Mesut Ozil, American owner Stan Kroenke insisted at today's annual AGM that the club won't be completely happy until they have broken their eight-season long trophyless spell.
"We have come a long way, with the debt being paid down, commercial revenues are increasing," he said. "We have more [deals] coming and are confident.
"However, nothing works unless we have success on the pitch."
Hence Metro are reporting that Wenger is now on the cusp of signing a new deal to take him through to 2016 with Arsenal which will keep him on his wage of £7.5m per year but offer extras if the manager can produce the trophy-winning form that made him so loved in his first years at the club.
The last piece of silverware that Wenger can lay claim to with the Gunners is the FA Cup in 2004. Since then, his side have gone from the Champions League finalists to pushing for a fourth place finish on the final day of last season and last summer it appeared that he had lost his way amid concerns over the club's transfer policy.
But the signing of Ozil has completely turned around the manager's fortunes, especially with the midfielder claiming that the reason he wanted a move from Real Madrid was because of a personal plea from Wenger. Supporters now appear to be in favour of keeping their most successful manager in the history of the club and the AGM appeared to proceed without as much dissatisfaction as in recent seasons.
And with the club currently sitting at the top of the Premier League table and rumours circulating that Paris Saint Germain were hoping to lure Wenger back into French football, Arsenal will no doubt be keen to tie their manager down for the next few years at least.