Asene Wenger will not be given a last chance to win the tournament after they were beaten 2-1 on aggregate by Atletico Madrid in the Europa League.
Defeat for Arsenal means they will miss out on Champions League football for the second straight season.
Wenger, who will leave the Gunners at the end of the season after 22 years in charge, has never won a European trophy with the club. It was Wenger’s 250th European game but there will not be another one for him at Arsenal. His final match before he leaves the club at the end of the season will be on Sunday week at Huddersfield Town’s John Smith’s Stadium. The manager is still to win a European trophy. “I am like the team – very sad and very disappointed,” Wenger said.
“I am even very frustrated, as well, because when you go out of a competition and you had the performances over the 180 minutes that we had, it is very difficult to take. For the club, there is now some time to think about what to do for next season.
“I think there are some good ingredients in our team and they will bounce back. These players have quality and, with the right additions in the summer, the team will compete next year.
“I have no plans at the moment. I have to recover first from a huge disappointment. I’m very, very sad to leave the club with that exit. I will take some time to recover from this. The game can be very cruel; sometimes it is very nice. But the suffering is very strong tonight,” Wenger said.