Bayern Munich are eyeing Arsenal winger Theo Walcott's contract situation. Walcott is free to sign a pre-contract with a foreign club from January 1 and manager Arsene Wenger admits they're likely to sell if he fails to accept new terms before Christmas.

TZ says Bayern are keeping tabs on developments.

With PSG keen on Franck Ribery, Walcott could move to Bayern as a direct replacement.