Theo Walcott: Arsenal fail to agree contract terms with winger

England winger Theo Walcott has rejected a contract offer from Arsenal but negotiations are ongoing between the club and player.

The 23-year-old, whose contract expires in 2013, wants to stay and is willing to continue negotiations.

But reports suggest Arsenal will sell him before the 31 August transfer deadline unless he signs an improved five-year deal worth £75,000 a week.

Walcott joined Arsenal from Southampton for £12.5m as a 16-year-old in 2006.

He has scored 42 goals in 222 appearances and won 28 England caps during his time at the club.

Walcott contributed 12 assists in the Premier League last season, many of which were for Robin van Persie.

Van Persie moved to Manchester United for £24m on 17 August, three days before Alex Song joined Barcelona.

Walcott started the home draw with Sunderland on the opening day of the season but was left on the bench for Sunday's draw at Stoke.

Arsenal waited until after the campaign began to open dialogue with Walcott's representatives and feel they have enough cover in wide positions if he is sold.

Manager Arsene Wenger has Lukas Podolski, Gervinho, Alex Oxlade-Chamberlain, Andrey Arshavin and highly-rated 17-year-old Serge Gnabry at his disposal.

Oxlade-Chamberlain, 19, started England's Euro 2012 opener against France, with Walcott forced to settle for substitute appearances in all four of their matches in the tournament.

- BBC.co.uk