The Gunners want their manager to commit to a long-term deal.
Arsenal are hoping to convince manager Arsene Wenger to sign a long-term contract with the club as Paris Saint-Germain wait in the wings to try and snap up the Frenchman, reports the Mirror.
The Gunners have entered talks with Wenger and are hoping that the 63-year-old signs a new deal at the Emirates Stadium before September – expected to be at least three years long.
Ligue 1 champions PSG have long been interested in the boss and since the departure of Carlo Ancelotti that interest has stepped up.
Although Laurent Blanc has recently taken over at the Parc de Princes, the former France and Bordeaux manager has only been given a 12-month contract, leading to speculation that Blanc is simply a temporary solution before the French side try and land Wenger again next summer.
The Gunners boss is preparing for his 17th season in north London, having led Arsenal to great success in England over the past decade-and-a-half.
Since arriving at the club in 1996 Wenger has guided the team to three Premier League titles and four FA Cups, as well as a Champions League final against Barcelona in 2006.
However, since triumph in the most prestigious domestic cup competition in world football in 2005, Arsenal have failed to win a single piece of silverware.
It is now eight years since the club last celebrated a trophy and many thought that Wenger had done all he could at the Emirates and would move on.
Yet belief that the Frenchman will sign a new deal is strong and with Gonzalo Higuain expected to arrive as a club record signing this week, it may not be long until the trophies start arriving again either.