Arsenal chairman Peter Hill-Wood has moved to assure concerned fans that Arsene Wenger will remain at the club despite the departure of vice-chairman David Dein.
Dein left the Emirates Stadium on Wednesday because of "irreconcilable differences" with the board believed to be his support for further investment and a potential buyout of the club by American billionaire and sports tycoon Stan Kroenke.
The 63-year-old vice-chairman - a 14 per cent shareholder in the club's parent company - was widely credited with bringing Wenger to Highbury more than a decade ago and remains a close personal friend of the French coach.
But Hill-Wood has assured fans that Wenger is happy at the club and that the board wants him to extend his contract.
"I think it's well known that Arsene and David have got on very well over the past ten years and I am certain that Arsene will miss him," Hill-Wood told Arsenal TV Online.
"However, I believe the relationship that Arsene has with the rest of the board is good.
"He is on contract with us until 2008 and we very much hope that he will extend his contract beyond that, but we haven't got into talking details on that yet."
Meanwhile, Hill-Wood has denied claims that Den's departure had anything to do with a lack of transfer funds made available to Wenger.
"We've always made funds available to Arsene, he attends the board meetings, he understands the financial position. I can assure supporters that we will continue to provide funds when Arsene requires them," he continued.
"We have a very good squad - young, maybe, but developing well and if Arsene wants to strengthen it we have the money to provide him with any reasonable purchases he wants to make."