I think He's staying, tbh. But they'll say that it's the final 2 years and will put in measures to ensure a smooth handover at the end of it.
Alexis will go. Ozil will stay. There will be more transfer activity than usual and also the coaching teams will see an overhaul.
We'll battle back from this season's 7th place finish to a victorious 4th position next year and He'll be carried through the streets of Islington to the Town Hall by a mob of ecstatic supporters.