Arsenal are trying to tie the winger down to a 5 year deal to stay at the Emirates.
"Negotiations continue … not directly with me at the moment but we try to sort it out and we will try to sort it out one way or the other," Wenger said.
"We want to extend his contract and to keep him at the club but you need not only our desire. His desire is also right. He wants to stay and we need to find an agreement. We have so many players in midfield and on the flanks but Theo is a very important player for me. I hope he will stay and that's it."