Ligue 1 club Paris St Germain (PSG) will offer Arsene Wenger a £30m contract to leave the Emirates in the summer and join the Parc des Princes side, according to the Mirror. Wenger is believed to be on a £7m contract at the Emirates but is expected to be offered £10m a year for three years if he joins PSG.

Wenger could be replaced at the Emirates by PSG's present manager Carlo Ancelotti, after the former Chelsea boss expressed an interest in the north London post. 

Arsene Wenger

The Mirror also believes PSG were interested in former Barcelona manager Pep Guardiola and Real Madrid's Jose Mourinho. However, with the Catalan having announced a move to Bundesliga giants Bayern Munich and Mourinho, also a former Chelsea coach, having expressed an interest in returning to the Premier League, Wenger has emerged as the only viable candidate for the Qatar Investment Authority-owned club in the French capital.

There is history between Wenger, the former Nagoya Grampus manager, and PSG. Goal.com believes the 63-year-old held informal talks with the French club in 2011 over a switch to the French league but eventually decided to remain in London.

Wenger's contract with Arsenal expires in 2014 and given the deteriorating relationship between the manager and certain sections of the supporters, the Frenchman may choose not to renew his contract. He has already confirmed that he will consider his future with Arsenal at the end of his contract but will not leave before it ends.

The Gunners finished third last season, 19 points behind league champions Manchester City. This season they are already 21 points behind leaders Manchester United. Poorly viewed decisions in the transfer market, such as the sale of striker Robin van Persie (to United, no less) and midfielder Alex Song have further weakened Wenger's position at the club. The fact the board has yet to sign adequate replacements hasn't helped.

Wenger has won three Premier League titles and four FA Cups with the Gunners. His greatest achievement, though, could be the unbeaten, 'invincibles' season of 2003/4.