Arsène Wenger has agreed a new two-year contract to remain Arsenal manager until at least 2019, extending his tenure at the club into an unprecedented 23rd season.

The deal, worth around £8 million a year, was finalised with majority owner Stan Kroenke in the 72 hours after his record-breaking seventh FA Cup win on Saturday and formally ratified at a board meeting on Tuesday that also reviewed a season that ended on a high but culminated with a lowest Premier League finish under Wenger of fifth.

As revealed by Telegraph Sport ahead of the final Premier League game of the season against Everton, Wenger paved the way for staying after being reassured that changes proposed to the sporting structure by chief executive Ivan Gazidis would not impact on his core decision making.

An official announcement will be made on Wednesday, when Wenger and Kroenke are expected to outline their vision and determination to make Arsenal again challenge to win the Premier League.