When the inevitable happens in the summer and Mourinho exits Real Madrid, it wouldn't surprise me one bit to see the Wenger to Madrid links resurgace again whereas I would be surprised to see a Mancini to Madrid link.
Football fans are fickle, none more so than the Arsenal lot. If Wenger grabs 4th again this season, which is absolutely essential with regards to getting the top-level players they ultimately need should Arsenal finally have a "warchest" of some kind to spend, then all those Piers Morgan-like Arsenal fans who have been chanting "Wenger Out!" will be backing him again for next season.
For a team that has had to sell Fabregas, Nasri, Song, RVP and others in order to fill Kroenke's pocket, whilst only being able to bring in the likes of Arteta and Mertersacker and yet they continually qualify for the CL, although may come unstuck finally this season, is quite impressive.
There seems to be a misconception that Wenger has tens of millions of £££ to spend every summer and he just plain refuses to. That's bollocks I'm afraid. If it wasn't, then what club would continue to employ a manager on the highest salary in the league, who refuses to spend the money he has, whilst failing to win a single trophy in 8 years? The fact is, the board know the situation Wenger is in and believe he is performing admirably given the resources at hand. Rumour has it that those resources may finally improve considerably in the summer.