Premier League rivals are circling Arsenal for Theo Walcott. The Daily Star says Arsenal's offer to Walcott is nowhere near what he could pick up at title rivals Manchester City or Chelsea.

Liverpool and Tottenham, who have also expressed an interest in the ex-Southampton star, could also pay more.

If he runs down his contract, Walcott would be in line for a huge signing-on fee elsewhere in the summer and he will be free to talk to foreign clubs in January if no agreement is made before then.