By ESPNSTAR.com staff
Walcott's future at the north London is currently undecided after the club's five year £75,000 a week offer to renew the player's contract, which expires next summer, remains unsigned.
It has been reported in various UK media that the England international wants a deal closer to £100,000 a week but the club's stance is that their offer is already a justified improvement to his current £60,000 a week contract.
Manager Arsene Wenger has made it clear that he will not accept having any player entering the season with a year left on his contract after selling former club captain Robin van Persie to Manchester United earlier in August.
Also, Wenger will not have to worry about replacing Walcott immediately in this transfer window despite the former Southampton trainee tallying 11 goals and 13 assists for the Gunners in the previous campaign. New signings Santi Cazorla and Lukas Podolski have all played as wingers before while the emergence of Alex Oxlade-Chamberlain has seen the youngster becoming a fan favourite last season.
Reports also suggest that Liverpool and Manchester City are keeping tabs on Walcott's situation.
Manchester City have had a bid for Swansea's Scott Sinclair rejected and consider the Arsenal man as a more value-for-money option to add pace to their side, which is full of technical expertise but lacks speed on the flanks.
Liverpool's Brendan Rodgers is also seeking a winger to add to the squad as he prefers having two quick wide men in his formation, much like the role Sinclair and Nathan Dyer played during his time in charge at Swansea.
A move to Anfield will also suit Walcott, who has openly admitted before that he is a lifelong Liverpool fan.
More importantly, both clubs are willing to push his wage up to the income bracket he desires.