And despite the result, he insisted that the Tigers’ fortunes were looking up.
Phelan said: “My future is a lot brighter. 48 hours ago I was offered some terms, but I decided to leave it until after this game.
“We’ll have a read of it and see where we go and, hopefully, take this club on. Everybody wants a 10-year contract and to be Arsene Wenger, if they can survive that long. The important thing is I get an opportunity to be a manager. I’ve enjoyed it so far.’’
The overwhelming verdict last season was that Arsenal, who were runners-up to Leicester, wasted a golden opportunity to win their first Premier League title since 2004.
Now, having finally met the demands of the Emirates faithful and splashed the cash – around £90m this summer – on new recruits, Arsene Wenger is under as much pressure as ever to regain the crown.
Winning the Champions League is another burning ambition but Tuesday’s torrid 1-1 draw away to Paris St-Germain underlined again how tough it will be to achieve that aim.
Arsenal were a goal down in the first minute at the Parc des Princes, but there was no early drama here.
It took 13 minutes for the first shot, Walcott crossing low from the right, but Sanchez – who hit Arsenal’s equaliser in Paris – miscued his effort.