Surely

The end of wenger's reign cant be too far away.
We are most likely not going to next year's CL.
Our fans are getting more aggressive in their demands for wenger's head.
Our players have certainly downed the tools and going through the motions.
Wenger cannot justify his status as manager in recent interviews.

Surely, our board cannot be blind to all of this. Even if he had quietly signed a new contract, my guess is that the board will be looking at ways to undo this. And the way i see it things can only get worse....a total thumping by Spurs and utd at home should pretty much push the fans over the edge (if they havent gotten there by that time).

Whatever wenger and the board are playing at i dont know. But i do know that right now the atmosphere at the club is toxic (and that's putting it mildly) and expect something close to an apocalypse if wenger signs a new contract.