Various news outlets are reporting that Arsenal manager Arsene Wenger is beginning talks on a new three-year contract extension valued at around £8m per season - a total of £24m.
The Frenchman's current contract - reportedly worth £7m per season - expires at the end of the current campaign, with Arsenal owner Stan Kroenke keen to tie down Wenger until 2017.
The new contract would see Wenger pass the 20-year mark in charge of the Gunners.
Arsene Wenger has confirmed to the media that he has fielded offers from a host of clubs - Paris Saint-Germain thought to be chief amongst them - but says he is in no hurry to discuss a new contract:
“I’ve said many times I want to do well with this club and in the end I will sit down and think how well have I done with the team I have had.
“That has to be sufficient for me to decide yes or no. One of the main judgments you can have about a manager is how well he does with his team.”
Arsenal are currently top of the Premier League after a stunning start to their campaign - only a loss to Aston Villa on opening day marking an otherwise perfect record in all competitions.
Many Arsenal fans called for Wenger to be sacked following what seemed to be another summer of inactivity, before the £42.5m signing of German international Mesut Ozil from Real Madrid on transfer deadline day.
Since the signing of Ozil, there has been a noted upturn in the Gunners' results, with recent victories against Marseille and Napoli two of the toughest tests Arsenal have passed comfortably.
63-year old Wenger has been Arsenal manager for 17 years, and celebrated his 17th anniversary with a comfortable 2-0 win over Napoli in midweek. Arsenal lead their Champions League group, and could all but secure qualification with a win over last year's finalists Borussia Dortmund in the next round of matches.