Wenger has come under fire in recent months after his Arsenal side finished the season without a trophy.
The north Londoners had been widely expected to challenge for the Premier League title last season, and despite topping the table over Christmas, were forced to settle for second place as Leicester won the trophy.
Wenger has not led Arsenal to the Premier League title since his side’s famous unbeaten triumph in the 2003-04 season.
However, former Manchester United boss Ferguson has come out in defence of his old foe despite Arsenal’s disappointing campaign.
Writing in the 2016 Champions League final programme, Ferguson said: “He’s been fantastic.
“Now he gets a lot of criticism, but I admire that you’re not going to bend to the will of the critics. He stays with what he believes in. And I think people who do that are outstanding coaches.
“When you talk about consistency, Arsene’s never changed the way that his side has played.
“I think he inherited a team when he first came to Arsenal with Steve Bould and Martin Keown and Tony Adams – fantastic warriors – but his team evolved when they started getting players like Thierry Henry, Robert Pires, Emmanuel Petit, Sylvain Wiltord. There was a change in the culture of the team.
“They became a magnificent team and the particular experience that Arsene got with that team… he has never changed in the type of player he wants or the sort of play he wants. It’s always about penetration from runners off the ball, good passes into angles for the strikers.”
Arsenal won the FA Cup for the last two seasons but were forced to settle for second place in the Premier League this term, as they finished 10 points behind Leicester.
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