Unlike compatriots Thierry Henry, Robert Pires and Patrick Vieira, who have signed new deals this summer, he has yet to put pen to paper to secure his future.

Many clubs would now decide to sell such a diminishing asset, especially as the Frenchman could agree terms on a Bosman free transfer with an overseas club from January 1.

However, while Wenger has allowed squad member Giovanni van Bronckhorst to join Barcelona on a year’s loan with a view to a permanent move, he is prepared to wait it out in the hope that Wiltord will come round.

The Arsenal boss declared: “The situation is quite clear. There is an offer on the table and, at the moment, Sylvain hasn’t taken it.

“The only difference with Patrick is that I couldn’t sort this one out. Sylvain was the first one that I approached to extend his contract and maybe he will be the last one too as it hasn’t worked out so far as I imagined it would.

“But I want to keep this team together and I was prepared to go into the season with those players, whether or not they extended their contract and whether or not it was Robert Pires, Patrick Vieira or Sylvain Wiltord.

“We cannot afford to let him go at the moment. It is a risk that I’m taking but I’m willing to take it.”

Wiltord could yet be won around, especially with Wenger having started him in his preferred role up front in the first two Premiership games of the season.

However, the Arsenal boss must decide whether to continue with that against Aston Villa at Highbury tonight, with Dennis Bergkamp also in contention.

Otherwise, Arsenal may be unchanged from the side that defeated Middlesbrough 4-0 last Sunday, with Kolo Toure hoping to keep out Martin Keown once again.

Francis Jeffers is banned, while Philippe Senderos and Pascal Cygan are injured, and van Bronckhorst was today undergoing his medical with Barcelona.

But despite allowing the 28-year-old Dutchman to leave just two years after arriving in an £8.5m (€12.3m) move from Rangers, Wenger does not intend to sign another defender.

Instead, he is looking for his entire team to concentrate more on their defensive duties and he has been impressed with the way that winger Robert Pires has already responded to the challenge.

“I was much happier with his defensive work last weekend than I have been for a long time,” added Wenger.

“He was footballer of the year even after he was injured last year. People remember how you were at the peak of your career and it’s difficult to get back there.

“It can take you a complete year before things really stabilise but he has worked very hard to get back there.”