Arsenal chief executive Ivan Gazidis wants Arsene Wenger to extend his stay at the club, while insisting the club would be able to afford a player like Wayne Rooney.
Wenger only has a year remaining on his current contract, but Gazidis has no doubts about the fact that the club wants the Frenchman, who joined Arsenal in 1996, to extend his stay beyond 2014.
The Arsenal manager endured a torrid time last season, with only a brilliant run in the final months of the season ensuring a place in the Champions League, while the side were embarrassed in the two domestic Cup competitions.
While several fans have called for Wenger to step down as Arsenal's trophy drought continues, the faith of the Arsenal board clearly still remains at a 100 percent.
"We think we have got a fantastic manager," Gazidis said. "We hope that he wants to do what he is doing for the long term. I believe he does.
"I think he is still ambitious, still driven and sees the potential of the club as he looks forward and I think he is very excited by that.
"We have a great relationship and he has a great relationship with the board as well. So, quietly and at the right time, I think we will make an announcement on that when things are all put in place.
"This is going to happen very quietly behind closed doors, privately and then there will be an announcement.
"I don't even want to say (if we have discussed a new deal). We have got a lot of confidence in Arsene that he is the right person to take the club forward and I think he will want to do that."
If the Frenchman again fails to bring silverware or at least compete for the English Premier League title next season, then it does look likely that Wenger himself might decide to call it a day after what would then be 18 years.
However, if Wenger can revive his side and bring back the glory days, then there is little doubt that the manager is capable of carrying on for a few more years yet.
Gazidis confirmed Arsenal have plenty of money in the bank, and would be able to afford the wages earned by a player like Rooney.
"I don't know what his fee would be," the American said.
"I'm talking about an extra £70 million ($109 million) of additional, high-margin revenue -- so of course we could do that.
"We could do more than that."
Gazidis also revealed Wenger has the authority to buy players without looking at their price tags.
"It is going to be the players that Arsene believes in," Gazidis added.
"He is pretty blind to price tags, he looks at what he sees with his eyes and makes judgements based on that, and not on reputations and prices."
