Well, the new deal is only logical. I would have been very surprised if the board wanted to part ways with him and im sure he himself wants to stay and win something again.
He needs to keep adding big names though. We have a perfect core here, its his job to spice it up with 1-2 world class signings. And then we could challenge for all titles again. I know its too early to come off the high that Γzil gave us, but im so fearful that it might have been one off by Wenger.