Arsene Wenger will be assured his job is safe by Arsenal owner Stan Kroenke - and told he will be backed in the summer transfer window at a board meeting today.
Wenger is under-fire following Arsenal's FA Cup exit against Blackburn and Champions League mauling at the hands of Bayern Munich in the space of four days.
That means the Gunners are staring down the barrel of an 8th consecutive season without a trophy - and the Frenchman has faced calls to be sacked by some Arsenal fans.
American owner Stan Kroenke jetted into London for the 3-1 defeat against Bayern on Tuesday and will hold talks with Wenger today after training.
According to the Daily Mail, he will assure Wenger that his job is safe and that there is money to spend in the summer on reinforcements.
Arsenal are said to have significant cash reserves at their disposal - around £150 million according to the Mail - while a new kit sponsorship deal with Emirates which begins this summer will add a further £150 million to the north London club's balance sheet.
The Gunners have been linked with numerous players in recent months, including Barcelona's David Villa, Stoke goalkeeper Asmir Begovic, and Fiorentina forward Stevan Jovetic.
However according to the Mail, the amount made available to Wenger will depend on whether he can secure Champions League football for a 17th consecutive season.
The Gunners, who exited the League Cup at the hands of League One outfit Bradford in December, sit four points behind rivals Tottenham who currently occupy the fourth and final Champions League qualification spot.
Whether any of Arsenal's targets would be willing to head to the Emirates Stadium without the lure of Champions League football remains to be seen.
The Mail claim Wenger will speak with chief scout Steve Rowley to assess his summer transfer targets, and also draw up a list of possible alternatives if his budget is cut.