Arsenal supporters have urged the club to refrain from offering manager Arsene Wenger a new contract until after the end of the summer transfer window.
The Frenchman joins the north Londoners in 1996 but his current deal expires after the end of the season.
Amid a eight-year wait for a major trophy, The Gunners have signed just one player this summer in the form of French youngster Yaya Sanogo on a free transfer despite chief executive Ivan Gazidis claiming the club have the finances available to make significant strides in the window.
Discontent around the Emirates Stadium was accentuated by the weekend's opening day defeat to Aston Villa and following a series of injuries to Bacary Sagna and Alex Oxlade-Chamberlain as well as the sending off of Laurent Koscielny Wenger is left with a wafer thin squad in the early weeks of the campaign after his failure to make significant additions.
And the supporters' trust, who claim in total to own 4.5% of the club's equity says Arsenal should halt contract negations with Wenger and concentrate all efforts on the remaining two weeks of the transfer window.
"In recent weeks Ivan Gazidis has spoken of the club's intent to offer Arsene Wenger a new contract," a AST statement read. "The AST believes this is inappropriate. For now the club's entire focus must be on using the remaining days of the transfer window to strengthen the team significantly.
"A decision on whether to offer an extension to the manager's contract which ends in May 2014 should only be taken following the closing of the transfer window and assessment of the team's performances in the weeks ahead.
"Considerable improvement must be shown for us to be convinced this should happen, and we believe that other senior football appointments must come first.
"Stan Kroenke does not attend many Arsenal matches nor seem to have the time to devote to the affairs of Arsenal. But it is clear to all the football personnel he is ultimately responsible for our failing."
Wenger has achieved Champions League qualification for 16 consecutive seasons and ensured stability during a period where the financial burden of the club's stadium forced the sale of captains Cesc Fabregas and Robin van Persie in successive summers.
But supporters are growing increasingly frustrated that with Arsenal now in a stronger economic position the club are not investing in strengthening the squad, with Wenger determined not to make additions unless an individual can improve the current team.
Arsenal were defeated 3-1 by Villa on Saturday and face Fenerbache in the Champions League play-off first leg on Wednesday.