Arsenal manager Arsene Wenger is on verge of signing his contract extension and reportedly, the Gunners management has sanctioned whopping £100-million as transfer budget for the Frenchman.

English newspaper Daily Mirror reports that fresh from winning the FA Cup, Arsenal boss Arsene Wenger will sign a new three-year contract within the next 72 hours.

It is understood the new £8million-a-year deal has already been agreed and Arsenal plan to announce it this week. The success in the FA cup has helped Wenger to win the confidence of board members and he has got their approval to spend big in coming months.

Arsenal spend 128 weeks at the top of the Premier League table but lost their lead during the business end of the season. The most important reason for the failure to continue their EPL lead was the injuries to key personnel and Wenger has decided to take pro-active approach as he is looking to increase the depth of his ailing squad.

The likes of Aaron Ramsey, Jack Wilshere and Matthieu Flamini spend most of the season on dressing room and Wenger is intent to avoid such situation next season.

The biggest area of concern for Arsenal at the moment is their attack. With Olivier Giroud the only world class striker in their ranks, Wenger is way too much dependent on the Frenchman.

Arsenal are said to be interested in the services of either Mario Mandzukic of Bayern or Karim Benzema of Real Madrid. Bayern have already signed BVB striker Robert Lewandowski as the replacement of Mandzukic and wary of his chances of getting selected in started XI, the player himself has started looking at the other options. The situation of Karim Benzema is little different at Real Madrid.

Real Madrid are strongly linked with a world record move for Liverpool striker Luis Suarez and if they become successful in their attempt, Benzema is guaranteed to leave the Santiago Bernabeu.

Meanwhile, right back Bacary Sagna is on the verge of signing with Manchester City and Wenger has already started looking for the possible replacements. Toulouse wing back Serge Aurier is attracting the interest from Arsenal. The Telegraph has reported today that the player himself has revealed his interest in becoming the long-term replacement to Bacary Sagna at Arsenal. Calum Chambers of Southampton is also on the wish list of Arsene Wenger though.

Amidst the continuous injury woes of Aaron Ramsey and Jack Wilshere, Wenger has been forced to look out for other options and Bayer Leverkusen’s Lars Bender and Southampton’s Morgan Schneiderlin are midfielders who have been watched extensively by the Gunners scouts.

If all the aforementioned rumours have anything to go by, Arsenal board is going to have a very busy summer and they will be hoping to spend their money in best the possible manner.