Arsene Wenger
Wenger joined Arsenal in 1996.

Arsenal chief executive Ivan Gazidis has confirmed Arsene Wenger will sign a new contract at the club to take the Frenchman into a 20th year in north London.

The 64 year old's current deal expires at the end of the season and the Gunners are yet to announce whether their long-standing boss will remain beyond the current campaign.

Reports have suggested Wenger has agreed a two-year deal with Arsenal and Gazidis says an agreement has been struck but will only be confirmed at the appropriate time.

"We've always supported Arsene. The board has always been completely behind him as has Stan Kroenke and Arsene has always been connected to this football club," said Gazidis, speaking at the unveiling of the club's record breaking partnership with Puma.

"We are comfortable with the position, relaxed about it. As I've said before Arsene will be extending with us and at the right time we'll make that announcement."

Against the backdrop of the clarification of Wenger's new deal came the news that Puma will replace Nike as the club's principal shirt manufacturer, after 20 years with the American sportswear brand.

The deal, which is reportedly worth £150m over five years, is a record-breaking arrangement for both Arsenal and Puma and further bolsters the Premier League club's commercial income; among the chief responsibilities of Gazidis since his appointment at the Emirates Stadium in 2009.

Amid the move to the Emirates in 2006, extortionate ticket prices, which were frozen for the 2013/14 campaign, propped up the club's finances and despite securing the backing of Puma – to add to their lucrative existing deal with Emirates – the club won't subsidise admission costs.

Gazidis explained: "We've been explicit as a club that we've been very dependent on ticket prices through the move to the new stadium and we've tried to diversify our revenue streams. This helps us take a further step down that road. What we hope looking forward is for more responsible.

"If that happens, then that begins to take pressure off ticket prices. We look forward to financial fair play. If that happens it takes the edge off relentless spending and that opens up possibilities in terms of the relationship with our fans."

Olivier Giroud and Santi Cazorla are among the Arsenal players already contracted to Puma as their official sponsors, a portfolio which also includes Sergio Aguero, Yaya Toure and Mario Balotelli.

The 49-year old Gazidis, who has a law degree from Oxford, says the partnership with Puma does not increase the chances of branded players joining Arsenal in the near future, including Monaco forward Radamel Falcao.

"I am not going to get into speculation regarding individual players," Gazidis said of the Colombian international. "What we do is based on what our manager thinks in terms of football.

"We've been very clear on that and we won't vary from that. If we do sign a Puma player that would be a happy coincidence."