Wenger has been inundated with offers, since he announced his summer exit.
But the biggest has come from the Far East.
The deal is understood to be worth even more than Marcello Lippi receives on his £24m-a-year deal as boss of the China national team.
Manchester City’s Pep Guardiola is the highest earner in the Premier League on £16m-a-year.
But Wenger, who has been earning £8m-a-year, can get even more after being sounded out with a serious offer from China.
Mirror Sport said in the report that Wenger would prefer a job in France or Spain and wants to carry on with day-to-day management.
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