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"Ashley is under contract until 2007," Dein told Sky Sports News. "He's our player and we intend to keep him our player.
"It must be feeding time for the agents."
Arsenal have been pitted against Bayern Munich in the UEFA Champions League and Dein is confident The Gunners will get the better of their German rivals.
"It was always going to be tough whoever we got," added Dein. "Bayern are top of their domestic league and have won four European Cups.
"There are two exciting games in store.
"We've got a talented squad and I'd like to think we'll progress in the competition."
"We are talking at the moment about giving him a better contract," Wenger stated.
"This will give him the recognition as one of the top players and we hope it will all be concluded in the next few months."
"Ashley has two-and-a-half years left on his contract and loves Arsenal to bits," declared Barnett.
"If they were to come to him with a new contract offer then of course he would be willing to listen.
"If Arsenal offered him something really good then his first choice would be to stay at the club.
"He would rather do that than go anywhere else."
Arsenal manager Arsene Wenger believes Ashley Cole will sign a new contract with the Premiership champions.
The Frenchman stated the England left back will start against Manchester United on Tuesday, despite reports over the weekend that the 24-year-old had been tapped up by London rivals Chelsea.
Speculation suggests Cole met with Blues chief executive Peter Kenyon, manager Jose Mourinho and agent Pini Zahavi last week, with the reports having caused concern with the Gunners boss.
Thierry Henry has stressed the importance of keeping England full back Ashley Cole at Arsenal.
The defender allegedly met with Chelsea officials recently at a top London hotel with some newspaper reports claiming the runaway Premiership leaders want to lure Cole away from Highbury.
Arsene Wenger has quizzed Cole on the matter and believes the player will sign a new contract with The Gunners. The Frenchman also added that he expects Cole's team-mates to pressure the 24-year-old into staying put.
Arsenal vice-chairman David Dein has stated Ashley Cole remains committed to the club.
The Gunners full back allegedly met with Chelsea recently, but evidence to support the claim remains unseen.
Cole, who is contracted to Arsenal till 2007, is currently in talks regarding a new deal with the Premiership champions.