Arsenal are prepared to sell Theo Walcott this month - but not on the cheap.

Relegation-threatened Southampton are leading the chase for their former star, who has also been the subject of inquiries from Everton and Newcastle.

The Sun says Arsenal will sell - but not for less than £30m.

Walcott's £140,000-a-week wages are also a problem for the struggling Saints despite selling Virgil Van Dijk to Liverpool for £75 million this week.

Walcott, 28, has not started a Premier League game for Arsenal since April and is open to a move during this transfer window to get his career back on track.