Arsenal boss Arsene Wenger confirmed talks with club majority shareholder Stan Kroenke.
Arsenal's regular board meeting yesterday was attended by majority shareholder Kroenke, who also watched Tuesday's Bayern Munich game.
Wenger, though, insisted it was very much a case of business as usual.
He said: "The meeting speaks about many things. Commercial, ticket prices, long term plans. I make my report as well on the technical side, so it was the usual thing.
"Of course we had no euphoria because we have gone through a disappointment on Tuesday night but apart from that we are responsible people who know what it is to fight."