Arsenal to offer new terms to Man City, Liverpool target Walcott

Theo Walcott is expected to be offered a new Arsenal contract before Christmas.

The Daily Mail says the offer of a new contract - and a considerable pay rise - should arrive in December. The 19-year-old is currently on about £15,000 a week and with his current deal running out at the end of next season, Arsenal will need to offer him considerably more to be certain of keeping him.

Liverpool are among those known to be interested in Walcott, while Manchester City are sure to consider an offer with their new Arab money.