It is understood the new £8million-a-year deal has already been agreed and Arsenal plan to announce it this week.
MirrorSport revealed on April 23 that Wenger had finally decided to sign - and that he will get a transfer kitty to strengthen the squad this summer.
But the FA Cup success has made it a lot easier for them to announce with fans happy that they have reached the top four and won their first trophy in nine years.
The FA Cup hero says the Gunners have already proved they can be contenders – and winning a first trophy in nine years will boost confidence even more.
"Now we’ve finally won something, hopefully it will push us on and we’ll win a lot more things," the Welshman insisted.
Monday's Arsenal stories from other newspapers and websites
He will be given the biggest transfer budget in Arsenal history to help him win the Premier League title for the first time since 2004.
Bayern Munich’s Mario Mandzukic and Real Madrid’s Karim Benzema are among the Frenchman's top striker targets.
Bayer Leverkusen’s Lars Bender and Southampton’s Morgan Schneiderlin are midfielders who have been watched extensively by the Gunners scouts, while Toulouse’s Serge Aurier, Southampton’s Calum Chambers and Manchester City’s Micah Richards are right-back options should Bacary Sagna depart.
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Pastures new: Could Milner make the move to north London?
The Gunners are also being linked with Manchester City midfielder James Milner.
According to the Metro, the England man could be tempted to leave the Etihad in search of regular football, and Arsenal could be an option.
Everton and Spurs are the other clubs reportedly in the running for Milner's signature.
ESPN FC's Shaka Hislop breaks down the rumoured shake-up in the Man United camp. With the summer transfer window upon us, rumours are picking up steam. Transfer Talk has its finger on the pulse when it comes to the latest gossip TOP STORY: Mourinho preparing Old Trafford clear-out Jose Mourinho will enter the next stage of his rebuilding job at Manchester United by making Juan Mata, Bastian Schweinsteiger, Marcos Rojo andDaley Blind available for transfer, according to the Daily Record .
Stephen denied he beat up the former Spice Girl - his wife of seven years - after X Factor final viewers took to Twitter to voice concerns about marks on her body Hanging by thread: Marks on Mel’s body may have come from drips used in hospital Distraught X Factor judge Mel B has told friends her seven-year marriage to Stephen Belafonte is on the rocks. Mel, 39, was discharged from her spell in hospital at the weekend, but has yet to return to the London home she has been renting with Stephen. And today Stephen, also 39, was forced to deny claims he beat Mel after viewers of the X Factor live final on Sunday night took to Twitter and voiced concerns about marks on her body.
The brunette stunner has a killer figure - as seen in these old snaps of her posing in the buff Lipstick Syndication Tanya in her previous glamour model life Her claim to fame was that her FHM cover sold more copies than J Lo. And we can see why... The ex glamour model has a killer figure - as seen in these old snaps of her posing in the buff.
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