Arsenal manager Arsene Wenger is ready to commit to the club for a further three years, and will sign the new deal within the next month.
The Mirror reports that the Gunners chief - who has stalled on agreeing to the deal - will finally put pen to paper and continue his reign at the club.
Officials at the North London club are desperate for Wenger to stay and offered the iconic boss a deal over a month ago.
However, with Arsenal top of the league and looking to negotiate a tough Champions League group, Wenger was focussed on his sides fortunes.
Despite a 2-0 defeat in Naples on Wednesday, Arsenal progressed to the knock-out stages - albeit in second place and thus in line for one of Europe's elite in the next round.
The Gunners also slumped to a 6-3 defeat to title rivals Manchester City, although the defeat will do little to deter those at the club who are still keen on the Frenchman's stay.
The deal is also likely to mean new contracts for Steve Bould and Neil Banfield who work behind the scenes.
Bould is credited with improving the Arsenal back-line, and they'll need to get back to their defensive best if they're to bounce back in their next fixture.
The Gunners face Chelsea at the Emirates in eight days and will be looking for their first win in three games.
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