Arsenal manager Arsene Wenger has signed a new two-year deal at the club.
The agreement does not include a break clause and, should it be completed, will extend his reign to 23 years.
Neither Arsenal nor Wenger, 67, see this as definitely being his final contract.
Arsenal are expected to spend at least £100m on new players in the upcoming transfer window – which opens on 1 July – having also spent around that figure last summer.
The Gunners finished fifth in the Premier League this season, the first time they have finished outside the top four since the Frenchman joined in 1996.
They finished 18 points behind champions Chelsea, but beat the Blues 2-1 to win the FA Cup at Wembley on Saturday.
Wenger met club owner Stan Kroenke on Monday to determine his future, with the decision relayed to directors at a Tuesday board meeting.
An official announcement is expected later on Wednesday.
Wenger led the Gunners to three Premier League titles and four FA Cups in his first nine seasons in charge.
In 2003-04, he became the first manager since 1888-89 to lead a team through an entire top-flight season unbeaten.
But after winning the 2005 FA Cup, they had to wait another nine years – or 3,283 days – for their next silverware. It came as they beat Hull City to win the 2014 FA Cup, before winning the trophy again the following year.
Arsenal are have not won the Premier League in 13 years and in 11 of those seasons have finished 10 or more points adrift of the champions.