Arsenal Manager, Arsene Wenger, has officially extended his stay at the club by sealing a two-year deal with the north London side.
This is coming after he won a record 13th FA Cup for the English side.
StandardSport reports that the 67-year-old tactician be would be handed £100million to turn the club into Premier League title challengers.
Arsenal were unable to secure Champions League football for the first time in Wenger’s 21-year reign after finishing fifth in the Premier League, a failure which could cost them around £50m in lost revenue.
However, the club believe they are in a robust financial position, not least because they have for years ring-fenced around half that figure as insurance against dropping into the Europa League.
Arsenal are keen on strengthening a number of positions and are monitoring several high-profile targets including Lyon striker Alexandre Lacazette and Monaco duo Kylian Mbappe and Thomas Lemar.
Celtic striker Moussa Dembele is also another option while the club hold an interest in Sunderland goalkeeper Jordan Pickford and Juventus midfielder Mario Lemina.
Arsenal are believed to have agreed a £6.8m fee for 19-year-old winger Henry Onyekuru from Belgian club KAS Eupen but a deal is far from completion given a host of other clubs have also made offers including Borussia Dortmund, Atletico Madrid, Roma and Schalke.
Onyekuru is yet to agree personal terms and in any case it may prove troublesome to obtain a work permit under stricter guidelines brought in by the Football Association in 2015.