Arsenal chairman Peter Hill-Wood has confirmed that manager Arsene Wenger is poised to put pen to paper on a new contract with the Gunners.
Doubts had begun to surface about Wenger's long-term future with Arsenal, before the Frenchman dismissed the possibility of an exit two weeks ago.
Now Hill-Wood says the deal has all but been agreed and is delighted to have settled the issue for good.
He told the Daily Star: "Hopefully we'll have something to say in the next week or so.
"The length of the contract is up to him, but hopefully it will be a two or three-year deal.
"We certainly want to pay him what he's worth, but money is not the major stumbling block. There are just little pieces here and there to sort out."
Meanwhile, Wenger now says he is in no rush to bring in a new director of football to cover the responsibilities of former vice-chairman David Dein, with director Ken Friar having stepped in to fill the gap.
"At the moment Ken Friar does this job and he does it very well," Wenger told the club's official website.
"I have known him since I have been here and, as long as he does that, we will not change now.
"We might look to employ somebody still, but not necessarily someone to be involved in the deals for the transfers."