Fans are becoming impatient with the trophy drought, as well as the frustration of seeing the departure of the likes of Robin van Persie, Samir Nasri and Cesc Fabregas in recent years, support for the manager and the board has become fragile over the past few weeks.
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"When you are in one place, you always are willing for a change or are prepared to change to something positive," he told reporters.
"But when change happens, you see what you were missing at first. I certainly feel that he has delivered what Arsenal want for the last years and he continues to be one of the great managers.
"Last year was the same. He has raised the expectations by being a winner in the past and what Arsenal fans expect is seeing trophies and seeing them back where Wenger put them in the past.
"Certainly, he might be paying the price for the expectations that he arose."
Before Villas-Boas' predecessor was relieved of his Tottenham duties, Harry Redknapp closed the gap between Spurs and Arsenal winning three of the eight fixtures between the two teams, in contrast to Arsenal's two wins.
However, Tottenham head to the Emirates for the first time since last season's historic 5-2 defeat, despite being 2-0 up before the close of the first half.
Villas-Boas' side will hope to reverse that result when the two sides meet on Saturday.