Arsenal chairman Peter Hill-Wood says manager Arsene Wenger can stay beyond his new contract - which expires in 2011.
"If Arsene feels that he still wants to be in charge of the team then there is no reason why he shouldn't do that.
"If he decides that he wants to leave the day-to-day running of the team then he will hopefully stay on in another capacity. You do not want to lose someone with his knowledge about football."