He hasn't won anything in 8 years, and yet he's something like the 4th highest paid manager in the world. He simply does not deserve it. And he has the nerve to moan about money and wages... You'd think that he'd do something about the ticket prices if he was earning his 7-8m a year doing something other than bringing success on the field!
He has taken Arsenal from a (internationally) fairly anonymous club and made them immortal, established them as a trademark as one of the most known clubs throughout the world of football. He has also established their style as a sought after model to follow, both on and off the pitch. Arsenal have a healthy economy, a brand new stadium and is currently one of the most popular clubs in the world...
He doesn't deserve it?
If he doesn't then nobody does...
Hasn't won anything? (Do you even know what "anything" mean?)
OK, he might not have won a trophy in eight years, but he sure as hell has won a lot during those last eight years. How about immortality for the club?
Arsene Wenger made most of the memories Gunners fans like to think back on today, without him there wouldn't likely have been much. Graham might have won some trophies as well, but I think we can all agree that even Gunners fans weren't proud of the way they played back then. Wenger brought the proudness into the club, the playful entertaining football, the trademark.
Some people...
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) etc etc
If you think Wenger is happy that he hasn't won anything in all these years then I think you are living in another world. 

