Arsenal manager Arsene Wenger has signed a new contract to stay at the club until May 2008 it was revealed today.

Wenger has ended speculation about his future by agreeing a long-term contract.

He said: "Signing a new contract just rubber-stamps my desire to take this club forward and fulfil my ambitions.

"I still have so much to achieve and my target is to drive this club on. These are exciting times for Arsenal."

The 55-year-old Frenchman told Arsenal's website www.arsenal.com: "My intention has always been clear. I love this club and am very happy here."

Chairman Peter Hill-Wood said: "We are absolutely delighted that Arsene has signed an extension to his contract.

"Since his arrival in 1996, he has revolutionised the club both on and off the pitch.

"As well as the six major honours he's won during his time here, Arsene has been a leading influence behind all the major initiatives at the club including the construction of our new training centre and also our new stadium.