Wenger is set to be offered a three-year-extension, believed to be worth an incredible £8million a year. The Frenchman would get a £500,000 a year increase on his current deal, and would go beyond 20-years as Arsenal boss should he accept.
It is understood money for the new deal has already been put aside by the club, who are desperate to tie the Premier League‘s longest serving manager to a new deal.
Informal discussions over a new deal have already taken place between Wenger and chief executive Ivan Gazidis, according to reports.
But with the club top of the table and things looking good, there is a renewed urgency at the Emirates to get the new contract signed.
Club officials are believed to be confident Wenger will stay at Arsenal beyond the end of this season, when his current deal is due to expire.
But while that confidence remains, the fact Wenger has publicly stated he does not wish to decide his future until later in the season remains a concern.
There has been reported interest from mega rich French club Paris St Germain, who believe they can tempt the 63-year-old to finish his career in the French capital.