The Frenchman could have made £30m-a-year in the Far East, but will stay put with the Gunners.
He's already said he's not going anywhere until the end of the season.
But it's unclear where he'll be managing next term.
Wenger says he'll be in charge somewhere, but hasn't confirmed if he'll stick around in north London.
He's got a two-year contract offer on the table from the Gunners worth around £10m-a-year.
He could have earned triple that in China but doesn't fancy the move, The Telegraph report.
Arsenal's offer is a 25 per cent rise on his current £8m pay packet.
It's claimed Wenger's preference if he does leave the Emirates will be to manage Real Madrid.
