Chelsea have dropped their interest in Arsenal winger Theo Walcott.

The Daily Express says Chelsea were said to have made a £25million bid for the Gunners star but had their offer rejected by Arsenal.

There had been interest from both Liverpool and Chelsea but after the Blues offer was rejected it is unsure as to whether they will increase.

Last night, Walcott's agent said that he did not believe Chelsea would make a higher offer and that he was no longer in negotiations with them.