Despite Wednesday’s Champions League last-16 first-leg thrashing at Bayern Munich, there is currently no prospect of Wenger leaving before the summer.
It is expected the decision for him to stay or leave will be mutual between the club and the Frenchman, 67.
Wenger, in charge since 1996, was offered a new deal earlier this season.
He typically makes his decisions at the end of a campaign, when he is able to reflect on how the year has unfolded and what needs to happen next.
His current contract with the Premier League club expires at the end of the season.