Paris Saint German have made initial contact with Wenger's representatives offer the possibility of him becoming new coach, offering him £30m, but will the French coach return home and take the money?
French club Paris Saint Germain had slipped off the radar somewhat before last summer but the arrival of Qatari owners who brought a wealth of funds have seen them become a force in European football once more.
However, the signings of Zlatan Ibrahmovic and Thiago Silva from AC Milan plus the arrival of Carlo Ancelotti as coach has not gone to plan with the latter told he can leave the club at the end of the season.
The Ligue 1 outfit have shown huge interest in Real Madrid coach Jose Mourinho this season and with the Portuguese coach suffering in Spain domestically, it was expected that he would arrive but they have now had a chance of mind and signalled Arsene Wenger as their top target.
The French coach is currently trying to rebuild his Arsenal side after seeing the likes of Cesc Fabregas, Alex Song, Samir Nasri and Gael Clichy leave the club for Barcelona and Man City respectively.
However with the likes of Man City, Chelsea and Man United all doing the same and winning, it is becoming increasingly hard and heaping more pressure on Wenger to succeed.
PSG therefore are hoping to entice him back to his homeland and with a £30m contract already on the table, could Wenger leave the club he has spent 16 years coaching.
Talk of his exit from the club has been gaining pace for a number of years after results chop and change from week to week and it is clear that around 70% of Gunners' fans want him to stay but the rest want a fresh change, with that minority becoming bigger.
Another worrying fact for Arsenal fans is the growing number of players, top players, who continue to leave the club, although Theo Walcott has finally put pen to paper on his new contract.
Wenger is now 63-years-old and having spent almost a decade with the same club, maybe his time has now come to make a change for himself, to try a new experiment. PSG would certainly offer him that.
Do you think Wenger could leave and would be better to do so?
image: © Matt and Kim Rudge