A lack of movement on a new contract for the Frenchman created concern that he would leave in the summer, but Philip Harris insists that a renewal was never in doubt.
The Frenchman's current contract expires this summer, with a lack of news on a renewal prompting concerns his 18-year reign would be coming to an end.
But, having ended a nine-year trophy drought with FA Cup glory on Saturday, Wenger is set to finally put pen to paper on a new three-season deal.
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"He was always staying," Harris told the London Evening Standard. "There was never any doubt. He gave us his word back in the autumn, just after the season started.
"It was just a case of sorting it out. It was the press making all the problems."
Should Wenger sign a new deal, Harris has backed the 64-year-old to stay on beyond that period in the event of more success following its cup triumph.
"If he wins the league and the cup and the Champions League in the next three years then I'm sure he will stay [longer]," he added. "Three years is a long time in football so let's see what happens. It's very hard to follow someone like [Sir Alex] Ferguson [who left Manchester United in May 2013 following 26-and-a-half years at Old Trafford], and I'm sure it will be very hard to follow Arsene."