According to Sportmail, the Gunners have already started compiling a list of potential candidates to replace Wenger.
Monaco boss Leonardo Jardim, Germany manager Joachim Low, Celtic head coach Brendan Rodgers and Manchester City coach Mikel Arteta are among the early contenders.
It is however understood that Wenger, who is now under more fire following Sunday’s Carabao Cup final defeat to Manchester City, will fight to see out the final 12 months of his contract.
Much will depend on whether Wenger can lead the club back into the Champions League. As it stands now, the only feasible route is by winnig the Europa League
They face a two-legged clash against AC Milan in the next round.