AW deserves repect for what he has achieved to get Arsenal FC where they are now but that respect could soon turned sour if he is seen to putting himself before the club. It may be hard for him to take but he may not be the best thing for Arsenal's future.
Where I work we have succession planning meetings. We make arrangements for what will happen when (not if) someone leaves the company. I chair the group and I usually start each meetings with the same phrase, "The graveyard is littered with indispensable people. If we don't plan for the future we are betraying those who will follow us and they will curse us for our lack of foresight."
No one likes change but it is nearly always for the best in the long run. Afterwards people often wonder why they never did it earlier.
I just hope Arsene does the right thing by the club - even if the right thing is he not staying on and so making way for the fresh ideas the club so obviously needs. It would be such a shame to see him hounded out and my memories become those of his ungracious exit and not of his glory years.
If you prune an aging rose bush well you can watch it sprout new wood and bloom a wondrous red rose once again.