Manchester City are interested in the winger after their pursuit of Scott Sinclair hit a brick wall on Monday, with the Gunners prepared to offload as contract talks stall
Arsenal are prepared to offload Theo Walcott before the close of the transfer window should talks over a new contract with the winger fail to reach a resolution.
Manchester City are now considering a move for the 23-year-old after their pursuit of Swansea winger Scott Sinclair was halted on Monday.
Walcott's representatives reopened talks with Arsenal on Wednesday with the England international wanting £100,000 a week, however, the club are not prepared go beyond their £80,000-a-week offer.
Walcott was Arsenal's second-highest top scorer in the Premier League last season with eight goals and the winger also pitched in with the same number of assists.
But what do you think? Should Arsenal keep hold of Walcott, or would they be doing the right thing by selling the winger before the close of the transfer window?
Should Arsenal sell Walcott? Let us know your thoughts in the comment sections below and take a vote in our poll. You can also get in touch via our Facebook and Twitter pages.