However, nine wins from their last 10 matches, coupled with their record-breaking FA Cup win, provided a positive end to a disappointing campaign.
Wenger's future has been up in the air for much of the season as both he and the club refused to publicly announce their intentions. "The players play for their future, for their next season", Wenger said.
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Suggestions that Arsenal may insist on hiring a director of football to work with Wenger had sparked claims the Frenchman was considering ending his 21-year reign.
Manager Antonio Conte defended Victor Moses as "an honest player" who would not try to cheat a referee after the Nigeria global was shown a second yellow card for diving in Chelsea's 2-1 defeat against Arsenal in Saturday's FA Cup final at Wembley. Arsenal could have scored two or three more goals in the first stanza against an out-of-sorts Chelsea outfit, but they were unable to bury their chances.
But months of discussions have resulted in an agreement that Wenger is happy with, and a clear sense from Kroenke and the board that the veteran manager is still the right man to take the club forward.
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The ball was so buried that the four-time major victor signaled to his playing partners that he was going to mark his ball to identify it.
"I am convinced we were hurt by the uncertainty about my future with the players", the Frenchman said. I know my mind.
The club's strong finish to the season, which included a win over league champs Chelsea in the F.A. Cup final, was likely another factor in the decision to extend Wenger.
Wenger has ruled out selling either player even if they don't sign new deals, but the board members will also have to debate whether they're willing to sacrifice massive transfer fees in order to keep the duo for one more year.
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Ms Sturgeon denied she was becoming a more divisive figure on the doorstep, adding: "The baby is much cuter than me". She seized on the problems that Theresa May has had over the past two weeks...