ARSENAL'S traditionally cash-cautious board will offer championship mastermind Arsene Wenger £5 million to stay at Highbury.

Chairman Peter Hill-Wood has already opened informal negotiations about an extension to the Frenchman's contract, which expires next year and wants to offer him a five-year deal at £1 million per season which would make Wenger the highest-paid manager in English football.

Said Hill-Wood: Arsene has done a fantastic job and we'll sit down with him after the FA Cup final and discuss whether he wants to extend his contract. I think we would be talking about a long-term deal and I would be delighted if he signed for five years. The way I feel right now he can stay here as long as he wants. I'm sure this is just the first of many championships for him.

Arsenal must act quickly, for the French FA have been watching developments in the title run-in closely, knowing that national coach Aime Jacquet has already revealed plans to resign after the World Cup finals. It was assumed that Jean Tigana, the man who followed Wenger as Monaco boss, would get the top job but Wenger's Premiership success has boosted his profile in France and he could again be offered the post he turned down in 1994.

Admitted Gunners midfielder Emmanuel Petit: I'm convinced that Arsene will accept the national team job eventually, but hopefully he will want to win more here first. Knowing the kind of man he is, I believe he will see this as just the start.