The Gunners are only prepared to give the Frenchman a two-year extension.
After the 6-0 Premier League humiliation at the hands of Chelsea on Saturday, Arsenal finally appear to be looking to a future without Arsene Wenger as manager, reports the Mirror.
With pressure mounting on the Frenchman to win silverware at the Emirates Stadium, the club have reduced their contract offer for Wenger from three years to two.
The 64-year-old has agreed in principle to this new deal and therefore looks to be staying with the Gunners until at least 2016, but things could change after that.
The embarrassing loss to city rivals the Blues at the weekend effectively rules Wenger’s men out of the title race for another year – having not lifted the trophy since 2004.
In fact the club have failed to win anything since 2005 and their last FA Cup triumph and with this drought quickly approaching nine years, many think it’s time for a change of boss.
Borussia Dortmund’s Jurgen Klopp, Pep Guardiola of Bayern Munich, Liverpool’s Brendan Rodgers, Everton ace Roberto Martinez and Wenger’s current No.2 Steve Bould are all thought to be on the shortlist.
Yet having won three league titles, four FA Cups and taken the side to the Champions League final in 2006, many think the current manager has earned more loyalty than is currently being shown.
Wenger has also never failed to guide the team to the top tier of European football since taking over in 1996 and with Manchester United unlikely to do so this season, only Real Madrid can match that record.
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