The Gunners confirmed yesterday that the Frenchman had signed a contract extension to May 2017.
Arsenal's transfer market activity - or perceived lack of it - has been a source of considerable frustration for some of their supporters in the last few years of Wenger's reign, which began in 1996 and saw its first trophy since 2005 when the north London outfit won the FA Cup earlier this month. However, the 64-year-old has stressed the importance of having a "successful" time during the present transfer window.
Asked about building another great Arsenal team, Wenger - a three-time Premier League winner and the division's longest-serving current manager - said on the club's official website: "It's time for another one. It's the start of a new team and I believe [the FA Cup] victory was crucial in that belief."
Asked about the fans expecting a big summer, Wenger said: "Yes, they should expect that. I'm sure we can strengthen the team."
Wenger did splash out last summer, spending a club-record £42.5m to sign Mesut Ozil from Real Madrid, but the midfielder struggled to maintain his early high standards as the team was decimated by serious injuries to the likes of Aaron Ramsey, Alex Oxlade-Chamberlain and Theo Walcott.
While many in the stands have wavered in their support for Arsenal's most successful ever manager, though, the board have remained steadfast.