Arteta is the leading candidate to replace Wenger as Arsenal boss and has already held positive talks with the Gunners hierarchy, as well as City manager Pep Guardiola who has given his blessing for the Spaniard to return to his former club.
Arteta played under Wenger at Arsenal and is now joint-assistant coach at Manchester City, although the 36-year-old has already received the support of Pep Guardiola, should he want to leave.
The search has begun for Wenger's successor after his 22-year association ended with a win over Huddersfield Town on Sunday and the north London outfit are hopefully of naming a new manager before the start of the World Cup in Russian Federation.
"He was a leader, has a good passion for the game, knows the club and knows what is important at the club", Wenger said.
Arsenal meanwhile have sacked all their backroom staff, including the medical team except goalkeeping coach Jens Lehmann and Wenger's assistant Steve Bould as the side continues to clear the decks for the new management.
"He has been assistant to [Pep] Guardiola as well, but overall I think he has the qualities".
Former Gunners midfielder Mikel Arteta is now a firm favourite to take over as Arsenal's new manager.
Crucially, though, he'll upset a status quo that needed shaking up under Wenger, with the club stagnating and even regressing during his latter years at the Emirates helm. "Gunners" legend (and Invincibles alumnus) Patrick Vieira is understood to be disappointed by Arsenal's overtures, feeling that contacting him over the managerial vacancy constituted a "token gesture" by the club.
Much has been made of Arteta's lack of managerial experience, having never managed a game of football, however, Wenger insisted that Arsenal has experienced coaching personnel to guide the Spanish manager.
Wenger said the north London outfit were unable to compete with United's 12 million pounds ($16.23 million) offer for the Portugal global.
Wenger's own future remains uncertain as he contemplates his next move but he did advise Arsenal before he left that they should get their new man in place well ahead of this summer's World Cup.
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