However, Wenger – who still has 15 months left on his current deal – insisted he remained ever committed to the Arsenal cause and keeping the club “stable”.

He said: “I have a responsibility towards the club and the fans, and I want to stand up for that. For me to destroy the work we have done together now would be stupid.

“The last person who would want to do that is David, because he acted always in the interests of Arsenal Football Club. The interests of Arsenal Football Club are to continue to be stable, to develop and go on.

“In the short-term, I feel we can deal with that situation. In the longer-term, David will have to be replaced.”

The involvement of billionaire Stan Kroenke is understood to be the reason behind Dein’s split with the rest of the Arsenal board – he was in favour of the American taking on a major role at the club, while the other directors were against such a move.

The former Football Association vice-chairman still holds around 14% of shares in the parent company of the Gunners, estimated to be worth approximately £60m (€88.4m).

Dein is thought to be considering a joint takeover bid with the KSE group, which recently upped their stake to just over 12% in the club.

Whatever the future holds, Wenger feels Arsenal have “lost a man of class, intelligence and competence who has contributed highly to the success and the development of the club and brought English football into the modern era”.

Wenger, 57, explained: “We worked very closely and we were in connection every day, three or four times.

“We lived close to each other, so there were a lot of meetings at either his house or my house, and a lot of big transfers had been done in one of the houses because they were only a minute away.”

The Arsenal boss continued: “I feel, even if I am very sad, that I am faithful to what we have built together.

“It is important that we keep the best interests of the club in his mind, and especially my mind, and focus on the future.

“We have built a team together starting from scratch again with many young players and I want to develop this team and go as high as we can together.”

Dein – currently the chairman of the G-14 group of elite European clubs – was the man behind bringing the then little known French coach Wenger to Highbury in 1996.

Following such unprecedented success of their “great partnership”, many Arsenal supporters feel Wenger will soon follow former director Dein, who has seen all his day-to-day ties with the club severed, out of Emirates Stadium.

The Gunners boss yesterday met with the board to discus the situation.

Chairman Peter Hill-Wood has made it very clear they all want the manager to stay on past the end of next season.

For now, however, Wenger is taking things one step at a time.

He said: “The summer of 2008 is still quite long (away), and after (this year), I will see.

“It depends how well I do next season, because I have high targets for next season.

“I knew a young team going to a new stadium, that we could struggle a little bit this year – but we have to be back on track fighting for the championship next season.”

Wenger maintained not opening negotiations over a new deal until late on was “normal” for him.

“I can only say I am committed to do as well as I can for the club and for the team as long as my contract lasts. I have always done that,” he said.

Arsenal return to Barclays Premiership action tomorrow against north London rivals Tottenham, a match which has been overshadowed by events of the past few days in the boardroom.

Wenger maintains the squad will remain focused on the job in hand as they look to secure Champions League qualification.

He said: “The players are surprised. It was a big shock for them as well. It is part of our strength to live with that.

“I feel Tottenham have come closer, especially in the last year and they have their little weakness during the European campaign which is very demanding.

“Overall I feel the quality of their game has gone up in the last two seasons.”