Rumour: Monaco offer Arsene Wenger contract that is three times his current salary at Arsenal

Arsenal manager Arsene Wenger looks on during the Barclays Premier League match

AS Monaco are said to offer a massive £12.4m a year, after tax, to lure in Arsene Wenger from Arsenal.

The Gunners boss’s future has been uncertain in North London with his contract renewal matters still in speculation. Even though he has rejected offers from high profile clubs like Real Madrid and Paris Saint German, his current state of insecurity has encouraged Monaco are confident of landing him France.

And it is believed that they are willing to offer a salary equivalent to £22m in the UK which is three times more than the £7.5m he currently earns.

It would certainly be an emotional homecoming for Wenger to a club which sacked him in 1994 even after his team was involved in the Champions League semi final.

With Champions League spot sealed for next season, Monaco are looking to bring in an elite manager who has a successful resume in Europe. Even though Claudio Ranieri has secured a place in Europe, they lag 10 points behind league leaders PSG which has been disappointing in the eye of the club’s owner Dmitri Rybolovlev.

Reports have emerged that that Russian might fire Ranieri and look for a substantial replacement for next season.