Arsenal are preparing to offload Theo Walcott this summer as Arsene Wenger looks to overhaul the squad that has again failed in the Premier League this season.

According to The Sun, the Gunners are preparing to let Walcott leave and have made Leicester City's Riyad Mahrez a priority replacement.

Arsenal have been constantly linked with the Algerian winger as his stellar contribution to the Foxes' Premier League title tilt endures and it is believed that they are now ready to go after his services.

27-year-old Walcott could be a casualty at the end of the season, seeing as he started just once in the Premier League in the past seven weeks, and Wenger is looking to fill his position with Mahrez who has produced a remarkable 16 goals and 11 assists this season.

Former Le Havre wide man Mahrez, 25, could command a transfer fee of around £25million if indeed Leicester were willing to sell one of their prized assets.