Arsenal shareholder Alisher Usmanov has warned that Arsene Wenger's legacy could be "tarnished" if he does not receive support from the board.
It was announced this afternoon that the Frenchman has signed a new two-year contract, which will extend his tenure in charge to at least 23 years.
Fan unrest dominated Arsenal's campaign, which once again witnessed the Gunners crumble in the Premier League title race, eventually finishing fifth.
Usmanov has been outspoken about the club's predicaments in the past, and he recently failed in his attempt to buy out majority shareholder Stan Kroenke in a £1billion deal.
In a statement, Usmanov has given his backing to Wenger and has suggested that he is waiting in the wings to take charge of matters off the pitch.
"I am pleased that Arsene Wenger will continue to manage Arsenal for the next two years as he is one of the very best coaches in Europe," said Usmanov. "What is now of paramount importance is that he receives the full support of the board and majority shareholder.
"He has a great opportunity to deliver the success that the fans deserve and the legacy that his long contribution merits. However, without the right support there remains a real risk that his legacy will be tarnished.
"If the support is not forthcoming, we stand ready to step in and do everything we can to deliver success on and off the field."
Wenger failed to guide the club into the Champions League for the first time in 21 years.