Wenger is now fighting to keep this new title winning side together with star forward Alexis Sanchez yet to commit his own future to the club, which could leave the Arsenal manager in the transfer market longer then planned.
The Arsenal legend, who who made 564 appearances for the club and won eight major trophies, told talkSPORT: "They have got to tighten it up at the back". We are committed to mounting a sustained league challenge and that will be our focus this summer and next season.
Two more years of Wenger is surely not the end of the world for the Gunners, either, because their fans will know they are going to be in or around that top four and if they get a good run they could be title contenders.
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Meanwhile, Wenger after signing the new contract expressed said he's targeting to win next season's Premier League title.
He urged Kroenke and the club's board, of which he is not a member, to give Wenger full backing to allow the Frenchman to secure a positive legacy at the club after nearly 21 years in charge.
The 67-year-old had been expected to extend his more than 20-year reign at Arsenal and confirmation came from the club on Wednesday afternoon.
Arsene Wenger has agreed a new deal to remain in charge of Arsenal.
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'Arsenal must sell Ozil and Alexis!'
Jubilant with the contract extension, the French manager said that he is really fond of this club and that he is now looking forward to add many more titles with the club in the coming future. Our goal is to compete for and win trophies here and in Europe.
Henry is not surprised Wenger has extended but remains unconvinced if the decision was correct after seeing Arsenal endure their worst ever finish of fifth - 23 points behind title winners Chelsea.
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"The club has grown beyond recognition in every aspect in recent years and we have the platform to be successful and meet the ambitions we and our fans share".