By Alex Taylor

Eddie Howe has been installed as the favourite to become the new permanent Arsenal manager, although you can still get quite a big price on that happening.

The Bournemouth boss saw his odds drop from 10/1 to 7/1 with betting company Paddy Power to be given the reigns at the Emirates when current manager Arsene Wenger leaves.

Everton boss Ronald Koeman, former Gunners star Dennis Bergkamp, German boss Joachim Low and Inter Milan boss Frank de Boer trail Howe at 10/1.

Arsenal legend Thierry Henry is priced at 16/1, while Paddy Power are hoping someone’s silly enough to back either Jeremy Clarkson or Piers Morgan at 400/1 and 500/1 respectively.

The Sun reported on Tuesday that Howe was being lined up by the Arsenal hierarchy to replace Arsene Wenger when his contract ends.

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However, Bournemouth Chairman Jeff Mostyn believes Howe will not leave the club until the Cherries are an established Premier League force.

Howe’s Bournemouth side finished last season in 16th place in the Premier League and, despite being touted for the drop, concluded their domestic campaign five points above the relegation zone.

The Gunners boss has been at the helm for 20 years and is currently the longest-serving manager in the Premier League.

In other Arsenal team news, Jack Wilshere has held talks with Wenger about signing a new three-year deal in north London when he returns from his loan spell at Bournemouth.