Vice-chairman David Dein insists Arsenal want manager Arsene Wenger to stay at the club "for the rest of his career".
The Frenchman is celebrating a decade in charge of the Gunners and has won the Premiership three times and the FA Cup on four occasions in that period.
And Dein says Arsenal are desperate for Wenger to remain at the club even when his days as a manager are over.
"We want him for the rest of his career. If he wanted to give up the tracksuit he'd be invaluable in the boardroom in a technical role," he said.
Wenger himself outlined his commitment to the club after their Champions League win over Porto on Tuesday, insisting that he intends to help the club build for the future.
"Reaching the final last year has given us belief and frustration as well," said the Frenchman.
"We try to transform that frustration into more motivation. We were very, very close to the line.
"We have a young team and feel we can improve. We want to continue to develop the club."
Former Manchester United captain Roy Keane has led the tributes to Wenger as the Frenchman celebrates the 10th anniversary of his arrival.
Keane was the figurehead of United's battle for supremacy with the Gunners over more than a decade before Chelsea's emergence.
No-one more than Keane embodied the intensity of the scrap between the two clubs, but the man currently making his way in management with Sunderland has immense respect for Alex Ferguson's long-time foe.
Keane said: "He has done a brilliant job at Arsenal. I watched them last week against United and they were outstanding.
"The way they play the game, the way he leads himself - I have to say, the way he keeps his head or he seems to keep his head, even at the start of the season when people were starting to doubt Arsenal - maybe myself being one of them - I thought United would beat them.
"A manager at any top club like an Arsenal, a Liverpool, a United, has obviously got special talent.
"I read something about him the other day and a thing he said about football: he said some people live off football and some people live for football.
"He clearly lives for the game, I will give him that, and all credit to him. I wish him well." PA