According to Arsenal chairman Peter Hill-Wood, quoted in the Daily Telegraph, Arsene Wenger's failure to sign a new contract can be explained in three letters: T, A and X.

'We are discussing a scheme that will help him keep much of what we pay him,' he tells the Telegraph. The complex scheme seems to revolve around whether or not a foreign national is a permanent UK resident, but PHW insists it's not (too) dodgy. 'Surely everyone should try and pay less tax if they can do so legally?'

Needless to say, when you think about the amount of tax payable on a £60,000 weekly salary, it would certainly be worth your while taking time to look at the options!

The paper describes how Arsenal tried (and ultimately failed) to bend the rules for David O'Leary, but succeeded in a court battle over surrounding 'offshore' payments to Dennis Bergkamp and David Platt.

But - very unhelpfully - it also repeats the rumours, which PHW insists are untrue, that the board is split over Wenger's new salary.

Read the details here.