Alisher Usmanov was very pleased to see Arsene Wenger sign a new contract at Arsenal, keeping him at the club untill 2019.
Usmanov, who owns 30 percent of Arsenal, failed in his bid to buy out majority shareholder, Stan Kroenke.
The Uzbekistan billionaire was not involved in the desicion to hand Wenger a new deal , but believes the frenchman needs financial backing.
A statement read: “I am pleased Arsene Wenger will continue to manage Arsenal for the next two years – he is one of the best coaches in Europe.
“What is now of paramount importance is that he receives the full support of the board and the majority shareholder.
“He has a great opportunity to deliver the success that the fans deserve and the legacy his long contribution merits.
“However, without the right support there remains a real risk his legacy will be tarnished. If the support is not forthcoming we stand ready to step in and do everything we can to deliver success on and off the field.”