Why would he?
He has never managed a club like us. Every club he has been at have been top end teams (except Leiria but that was at the start of his career). He works at a different level to us.
I mean it COULD work but I personally think it would be a disaster with in house fighting all over the place.
I don't think he has got the fight in him these days either.
Even considering him is farcical. He would never stoop to managing at our level. He is heavily (like, super heavily) tipped to go to Madrid, the biggest club in the world.
He is already ridiculously wealthy, so he wants to go somewhere worthy of his talents (in his mind). The lowest he would go is probably a top Italian team, and he knows he cannot match the resources of Man City so he will not be in a mind to come here.
People say his stock is low, but then they would also have rated the likes of Tuchel higher for a time due to them being “progressive young coaches.” Arsenal shows at the moment what happens when you try to play progressive football without the players capable of doing it to a high enough level.
In fact you realize how good Wenger was now that you see another, very good, coach struggling to get to a similar level.