Guardiola has already admitted that he will not stand in Arteta's way should he decide to take on his first role in football management.
And Arteta has emerged from a group of potential candidates which includes several big-hitters to be made the favourite for the job.
Former Barcelona manager Luis Enrique is reportedly interested in succeeding Wenger at the Emirates, but his wage demands are putting Arsenal off.
The signing of a player who may not fit in with the new manager's plans may, of course, prove to be problematic.
The next few weeks will be crucial for Arsenal, especially as the club are looking to wrap up the managerial position and further focus on player transfers, which they would want to conclude before the World Cup.More news: HBO producing documentary series on Adnan Syed, 'Serial' case
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But given that Arteta has history at the club, it's hard to see things going awry.
It's certainly become a frustration for Arsenal fans, not to mention the players, who have grown exhausted of waiting according to goalkeeper David Ospina. Both Ljungberg and Pires were key members of the 2001-02 double-winning side and the Invincibles team two years later, with the latter contributing 14 goals and seven assists to that historic campaign. "He will have learnt so much". The 35-year-old Czech said failure to respect that principle could threaten the club with the same problems as Manchester United after the retirement of Sir Alex Ferguson.
"Today, footballers are like brand names", said Vialli.
Like Hoffenheim, Schalke too took a punt on a young coach, appointing Domenico Tedesco last summer. Sometimes Ferguson may have thought about it, but he was at the same club for more than 25 years. It is not easy to leave Juventus because it is hard to find somewhere better.
"He's now in the US coaching and I speak with him sometimes", Reyes added.