Arsenal hero Paul Merson is upset the board failed to move for Manchester United boss Jose Mourinho.
Merson remain unconvinced that Arsene Wenger's current team is ready join win major trophies.
"His contract is up at the end of the season and I thought the idea was that it might be time for him to step aside," Merson told the Sunday World.
"Then I saw him on TV the other day saying he wanted to give Jack Wilshere a new contract next summer when his loan at Bournemouth ends.
"Well, if he is talking about giving players new contracts, it is pretty clear that he is intending to hang around. In my opinion, Wenger will still be at Arsenal when the DFS furniture sale ends - and that has been going on for as long as I can remember!
"I think they will give him a new contract and I see him being there for many more years. He will decide when he wants to go and, let's be honest, who is there to go for now?
"For me, he should have turned around many years ago and said the time was right to step aside. Maybe when he won one of the two FA Cups in 2014 or 2015.
"That was especially the case last year with all these top managers that were available at the time.
"Jurgen Klopp, Pep Guardiola, Antonio Conte, Ronald Koeman, even Jose Mourinho…they were all available.
"He should have gone to the board and said: 'I've had my time, you have to go and get one of these managers'.
"Those guys could have taken Arsenal to another step as they are all world-class managers, and the fact that they have not been sacked too often between all of them confirms that.
"If Wenger was to go now, who could they go for? There are not too many top managers about any more.
"That means he will probably stay on and sign another contract and this same story will go on and on and on."