Arsenal Confident Wenger Will Sign New Contract

Arsenal's board is so confident that Arsène Wenger will extend his contract in the autumn that it has not considered looking for a successor. The 57-year-old Frenchman has managed Arsenal for more than 10 years but his attachment to the club seemed to be in doubt when Thierry Henry stated a fortnight ago that Wenger had been "unsettled" by the sudden departure of the vice-chairman, David Dein, in April.

Wenger is approaching the final season of his current deal but, in the 2½ months since Dein left, talks on a two-to-three-year extension have progressed smoothly. It is expected he will put pen to paper between October and December, in keeping with previous extensions when he has chosen to commit with six months to run on his existing agreement.

There are several factors underpinning the board's confidence. Its manager is among the best paid in the world and is happy in London but directors believe that, with a promising young squad ever closer to maturity, it is his professional investment in the club which will tie him to the Gunners beyond the upcoming season.

There are also significant transfer funds at Wenger's disposal for reinforcements. After the move to the Emirates Stadium Arsenal are better off than they were at Highbury by £20m a year, net of debt service and repayments, and the increased revenues from the new Premiership broadcast deal will be handed to Wenger. That will give him more than £90m to spend on wages and transfers over the next 12 months, up from £75m last year.

The one area of uncertainty surrounds the ownership of the club. The American billionaire Stan Kroenke has built a 12.2% stake and, although he refused to reveal his intentions during a meeting with two Arsenal directors in New York last month, he is expected soon to make a formal bid for the club.

Danny Fiszman, who with almost a quarter of Arsenal is the biggest single shareholder, has privately made clear his commitment to maintaining his equity beyond the 12-month "lock-down" period in which key shareholders have agreed to hold on to their stock. But although principal shareholders remain implacably opposed to a takeover before April, a major bid would test their resolve. In concert with Dein's 14.6% equity, if Kroenke acquires Fiszman's shares he will hold a controlling stake in Arsenal.