By Gabriel Tan in Kuala Lumpur
Arsenal manager Arsene Wenger previously expressed his intention of keeping Walcott at the club and there were widespread reports that the Gunners were set to offer the 23-year-old an improved deal in a bid to keep the speedy forward at the club.
The former Southampton player, whose contract with Arsenal expires at the end of next season, was part of the England team which participated in the recently concluded European Championship and his involvement in the tournament meant that contract talks between Walcott and the North London club had to be delayed.
"We were always going to wait till after Euro 2012 to hold talks," Walcott told ESPN STAR Sports in Kuala Lumpur.
Nevertheless, the lack of any updates on Walcott's contract situation, nearly a month after the Euros ended, has fuelled speculation that he may leave the club during this transfer window.
Recent reports have linked Walcott with a move to Liverpool and Chelsea, with both clubs allegedly ready to battle it out for the signature of a player Lionel Messi once described as "the most dangerous player he ever played against."
Walcott however insists he is unaffected by all the rumours, preferring to focus on playing football instead, and claims he leaves the contract negotiations to his agent.
"I'm not at all fazed by the speculation," he added.
"I actually don't have a clue about all the reports.
"I just like to get on with things and work hard.
"My agent and the club will talk things out and when there's something to be decided, I'll get involved."
The recent signings of experienced German international Lukas Podolski and last season's Ligue 1 top scorer Oliver Giroud have sowed the seeds of optimism in Arsenal fans worldwide, with many believing that the club, which has consistently finished in the top four of the Premier League, is now ready to take the step up and win the title.
Walcott has echoed those sentiments and despite the expected departure of club captain Robin Van Persie, believes the club is moving in the right direction.
"Of course I am excited about the future of the club," he proclaimed.
"Not many people recognise we've qualified for the Champions league so many years in a row.
"Now the next step is to prove them wrong by winning trophies"
Walcott was in stellar form for Arsenal last season, scoring 11 goals and providing 13 assists in 46 appearances.
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