Arsene Wenger
Arsene Wenger is out of contract at the end of the season. [Reuters]

Arsene Wenger is confident that he can build another title winning team but has refused to comment about his future at Arsenal despite his current deal expiring this summer.

The 63 year old recently celebrated 17 years in charge of Arsenal but the club have failed to win the Premier League title since 2004 and have not won a single trophy since the FA Cup triumph of 2005.

However, after breaking the club's transfer record in order to sign Mesut Ozil from Real Madrid, there has been renewed hope among supporters that this barren spell could come to an end.

Since the German's arrival in north London, Arsenal have yet to taste defeat and current sit two points clear at the top of the Premier League, whilst also winning their first two Champions League group games.

Wenger believes he can build another side capable of challenging for major honours, which could very well be the current squad he has available, but he has refused to comment on his long term future at the club.

"I can build another new team, but I haven't got 17 years that's for sure," Wenger told the club's website. "I can build another team because in 17 years I had a few teams, but at the minute I'm looking at the short-term. I will make a decision about the little-bit-longer term later."

The Frenchman will be out of contract at the end of the current campaign but it seems unlikely he will walk away from the north London club with such an exciting squad at his disposal.

Arsenal have not only impressed in the Premier League, but there victories over Napoli and Marseille have got many supporters excited that a good run in the Champions League could beckon this season.

The Gunners next face last year's beaten finalists Borussia Dortmund in what could be seen as an acid test for the current side. Should they emerge victorious then Wenger will be confident his current squad will challenge for major honours this season.