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Arnold’s deal expired after he oversaw Australia’s most successful World Cup campaign, in which the Socceroos beat Tunisia and Denmark to reach the round of 16.
FA chief executive James Johnson says he won’t discuss the position with any other potential candidates before speaking with Arnold upon his return from a European holiday.
“We are in touch with Graham about what his involvement over the next four years will look like,” Johnson told AAP.
“Sure, having some stability with this team, given the rise, is a good thing, and we will talk to Arnie about that.
“We won’t talk to others until we have finished talking to Arnie.
“But … we have got to be realistic; Arnie’s value has increased but so has the Australian game, and the Socceroos … let’s see where we land. But I must say I am very proud of Graham.”
FA is carrying out a review of the World Cup campaign and is expected to finalise it in January.
Australia won two matches at a World Cup for the first time and advanced to the last 16 for only the second time, matching the heroics of the 2006 Socceroos coached by Guus Hiddink.
Arnold is yet to reveal if he wants to remain Australia’s coach.
“We’re in regular contact, we have a great relationship,” Johnson said.
“I have just said, ‘Mate, go and have a break, we’re not going to market, we will be talking to you but let us finish our review … and then we will get together and have a beer and have a conversation around your future when you get back’.
“That is what we intend to do.
“We don’t want to rush the decision.”
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