The story comes as a shock for some Arsenal fans who have been calling for a change. However, the Arsenal board is not keen on letting Arsene Wenger go as they see his performance as per their goals and ambitions. Arsene Wenger himself does not want to leave without winning the Champions League, and the extra financial support from the board came as a result of that. Wenger strongly believes in his current squad but in order to push for the Champions League, he understands that the team needs extra support. The Frenchman also wants to leave the squad in a good shape for the new manager.
The recent reports in the media that were built around Ian Wright claiming Wenger is "finished" and that his time at Arsenal is coming to an end are completely baseless. Wenger is fully committed to Arsenal and has no intention of leaving without a Champions League trophy.
Being in close contact with TGW Group Media, it has also been revealed that Arsene Wenger wanted to delay the announcement as he likes to observe fan behaviour, and how an announcement of such sort would affect ticket sales.