The club's Qatari owner Nasser Al-Khelaifi has described the Arsenal boss as a "great manager" but says he is happy with Carlo Ancelotti's work so far this season
The 63-year-old has been linked with a return to his homeland at the end of the season, with the cash-rich Parc des Princes club touted as a potential destination.
However, with the Parisien outfit currently seven points clear at the top of Ligue 1 and preparing for a Champions League quarter-final clash with Barcelona, Al-Khelaifi insists he is happy with Carlo Ancelotti's work.
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"He is doing a great job with Arsenal and he has got a contract for another year I believe, which is what I hear from the media.
"I cannot talk on his behalf and I do not know what he will decide, but for us we have Carlo and we are very satisfied with Carlo Ancelotti."
The president also acknowledged the considerable sums of money ploughed into the club since the Qatar Investment Authority's 2011 takeover.
Al-Khelafi said: "We have spent some money on the club, but we had to if we wanted to get into the top five clubs in Europe."