But more negotiations will be put on ice until the end of next season, when Wenger's current contract is due to expire.
Wenger has been in the Arsenal hot seat for 20 years.
But pockets of the home support are growing restless, with the club's last league title coming in 2004.
A Champions League final defeat to Barcelona in 2006 is also Wenger's best achievement in Europe's main competition.
The Gunners boss, 66, intends to stay for the final year of his contract.
But another season of underachievement could see the veteran coach walk away.
And with that in mind, it's claimed Arsenal have begun looking for replacements.
Laurent Blanc and Diego Simeone are potential candidates, while there is also interest in Southampton's Ronald Koeman.
