Arsenal majority shareholder Stan Kroenke has hailed the impact of Arsene Wenger following his confirmation that he will step down at the end of the season.

The 68-year-old confirmed on Friday that he will leave the Gunners in May, bringing to an end a remarkable 22-year spell at the club.

Kroenke claims the Frenchman's "longevity and consistency" will go unmatched in top-flight football and says the club and board owe him a debt of gratitude.

"This is one of the most difficult days we have ever had in all our years in sport," he said in a statement released via Arsenal's official website.

"One of the main reasons we got involved with Arsenal was because of what Arsene has brought to the club on and off the pitch. His longevity and consistency over such a sustained period at the highest level of the game will never be matched.

"Arsene has unparalleled class and we will always be grateful to him. Everyone who loves Arsenal and everyone who loves football owes him a debt of gratitude.

"Three Premier League titles, including an entire season unbeaten, seven FA Cup triumphs and 20 successive years in the Champions League is an exceptional record. He has also transformed the identity of our club and of English football with his vision for how the game can be played. 

"We have high ambitions to build on Arsene's remarkable tenure and to honour his vision by ensuring that Arsenal competes for and wins the biggest and most important prizes in the game. 

"We must now focus on making a strong finish to the season and ask our millions of fans around the world to join us in paying appropriate tribute to one of the greats of Arsenal's history and one of the greats of the game."