Arsenal fans can now breathe a sigh of relief, as their beloved manager Arsene Wenger has revealed that he has opened talks with the club over a new contract, as per reports from The Guardian.

Wenger, who has served the North London club for 17 long years, is keen on extending his stay at Emirates and has confirmed that he would like to continue beyond next summer, when his contract is due to expire.

The Frenchman has been heavily linked with a move to Ligue1 outfit Paris Saint-Germain, but Wenger has played down such talks in his recent interviews claiming that his heart lies at Arsenal.

PSG have appointed Laurent Blanc on a two-year deal, replacing Carlo Ancelotti. However the move has failed to end the speculations that the French nouveau riche may try to lure Arsene Wenger at the end of next season.

“The link is because I’m French and I know the owners,” said the Frenchman.

“But if that was the case, then I would be there already. My heart is with Arsenal. I am committed to staying longer at this club. We had already a chat with Ivan [Gazidis, the chief executive]. It went very well … not a problem.”

However, Wenger is not taking anything for granted. He admits that the coming season is very important for him as he would like to end the club’s trophy drought of eight years. Arsenal last won trophy under Wenger in 2005, when they defeated Manchester United in the FA Cup final.

Arsenal board have backed the Frenchman with a hefty transfer war-chest of £70 million, in order to propel the club back into the league of the big spenders and in contention for the title race.

While the club has been linked with several top players, like Gonzalo Higuain of Real Madrid, Luis Suarez of Liverpool and Marouane Fellaini of Everton, so far, Arsenal have failed to land any one of their prime targets in their summer transfer window, and have only captured Yaya Sanogo, who moved to the from Ligue 2 team Auxerre on a free transfer.