The humiliating defeat is the second time in as many seasons Arsenal have conceded five against Bayern and virtually ends all hope of the Gunners progressing into the next round of the Champions League.
Calls for Wenger to be removed as manager have intensified since the result after what was already a difficult few weeks for the Frenchman after defeats to Watford and Chelsea.
However, the BBC claim no decision will be made about Wenger’s future until the end of the season.
It is also reported that any decision will be a mutual agreement between Wenger and the club who are unwilling to force their long-serving manager out the door.
A host of pundits and former players have urged a change in command at the helm since the rout on Wednesday night.
Wenger’s current contract expires at the end of this season and the club have already offered the Frenchman a new deal.
That offer remains on the table despite the heavy defeat and will stay in play until a decision between the hierarchy and Wenger is reached.