Veteran has been in the capital now since September 1996.
Arsenal head coach Arsene Wenger has still to put pen to paper on the new contract that the north London club have had on the table for the Frenchman for some time now, according to reports in the Daily Mail.
The 64-year-old’s current £7.5 million-per-year deal at the Emirates now only runs until June 2014, with Gunners owner Stan Kroenke and chief executive Ivan Gazidis having both been waiting for Wenger to sign his contract extension for over a month now.
However, it is understood that the veteran manager wants to first wait and see if his team can qualify from their tough-looking Uefa Champions League group before committing his future to the north Londoners.
Arsenal are currently locked in a three-way battle along with Bundesliga giants Borussia Dortmund and Serie A high-flyers Napoli to make it through Group G and into the knockout stages of Europe’s premier club competition next February.
At present, the Gunners are level on six points with both the Germans and the Italians after the first three group-phase fixtures, with tricky assignments still to come against Dortmund at the Westfalenstadion on Wednesday night, followed by Olympique de Marseille at the Emirates and then a trip to face Napoli.