Pictures of the Dutchman cast in a pose from a game with Newcastle in 2003 were leaked online on Wednesday, prompting the North Londoners to confirm the plans.
“We’re pleased that speculation surrounding a future possible statue at Emirates Stadium is generating interest and will obviously communicate details if and when there is confirmation of any new developments,” said an Arsenal spokesman.
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Since Guus Hiddink arrived at the helm, Chelsea have improved considerably after a tricky start to the campaign.
Newcastle United are staring down the barrel of relegation to the Championship for the second time in the past eight years.