If he remains the full three years of the deal, he would surpass 20 years at the London club, an incredible number given the volatility managers face these days.
The report also indicates two important numbers: it says he will make $12.7 million a year, and that he will get $168 million to work with in this summer’s transfer market.
However, it’s hard to take that second value seriously, given reports had it at even higher last summer and they came nowhere close despite spending big on Mesut Ozil near deadline day.
The new number could be a product of their failure to empty the entire vault last time around, but it’s next to impossible to correctly judge how future transfer windows will pan out spending-wise.
Despite the news coming just a day after Arsenal earned their first trophy since 2005, the extension was well in the works before the FA Cup glory, and reports indicate he would likely have been given the deal no matter the outcome in the Wembley final.
Arsenal’s formal announcement is likely by Thursday at the latest, according to the Guardian report.
Wenger follows a number of his players in signing extensions this year, including Laurent Koscielny, Santi Cazorla, Aaron Ramsey, Per Mertesacker, and Tomas Rosicky. With most of his squad locked up in long-term deals, it will be easy for him to build further given the relative solidity of his team’s future outlook.
Bacary Sagna is the only main player who’s future is uncertain, as the club has an offer to the defender on the table but he appears likely to turn it down.