But Wenger, with his vast experience and remarkable track record with Arsenal, is arguably a much safer pair of hands to guide Milan back into the European elite.
France Football report that he has been in negotiations with Milan for weeks, and an agreement has almost been reached to replace Gennaro Gattuso as coach.
Reports from Italy claimed Wenger was in advanced talks with Milan, and poised to end his short hiatus from football.
Wenger spent over 20 years in charge of the Gunners before parting ways with the Londoners during the summer.
Wenger has dismissed those suggestions, however, telling beIN Sports: "The only thing I can say is that it is fake news".
In the same interview, Wenger also stated that he does not yet know whether he will return to club football or turn his hand to coaching a national team.
" If I signed somewhere I would tell you but that is wrong news".
"I can only master what I do in my life", he said.
Having recently revealed that he is close to making his return to football, the 69-year-old has admitted that he regrets every single mistake during his time as Arsenal manager.
Real president Florentino Perez has reportedly been personally in touch with Wenger about taking up the vacant head coach role at the club.
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