Arsene Wenger will manage Arsenal for a 20th season after the club said on Monday that he will be signing a new deal.
The Frenchman, who has been in charge since 1996, had been reluctant to publicly commit to a new deal, but chief executive Ivan Gazidis said that will happen soon.
"We have always supported Arsene, the board has always been completely behind him as has (owner) Stan Kroenke, and Arsene has always been committed to this football club," Gazidis said. "So we are comfortable with the position, we are relaxed about it ... Arsene will be extending with us. And at the right time we will make that announcement."
Wenger has delivered three Premier League titles for Arsenal and the FA Cup four times, but hasn't won a trophy since 2005.
Now, though, Arsenal is top of the Premier League and still in the Champions League and FA Cup.
Wenger's financial power in future transfer windows will be enhanced by Arsenal signing its biggest-ever commercial deal.
Puma is replacing Nike as Arsenal kit maker in deal that is reported to be delivering 30 million pounds ($50 million) a year for the London club.
Gazidis said the money will be made available to Wenger to invest in the team.
Arsenal's turnover in 2012-13 was 243.6 million pounds ($404 million), the eighth highest in football, according to accountancy firm Deloitte last week.