Arsenal Transfer News: Theo Walcott Heading Back To Southampton?

The Daily Mirror. The newspaper reports that the Hampshire side are attempting to showcase their intent to compete at the highest level of English football by making an initial enquiry about the 23-year-old who has so far refused to sign a contract extension on his Emirates deal that expires at the end of next season. The Saints would need to spend at least £15 million and £100,000 a week in wages, far higher than any of their current players earn, and if they can convince Arsenal to sell and meet Walcott's wage demands, they would still need to convince the Euro 2012 star to give up Champions League football next season and a Premier League title race to re-join a side that not so long ago were in League One. However Southampton have huge ambitions for the future and chairman Nicola Cortese has claimed previously that potential new signings that the club are pursuing can help them challenge for a Champions League birth in the next three years. Plus, it is doubtless that Walcott has fond memories of his time on the South Coast where he grew up and came onto the scene as a 16-year-old sensation, playing just 21 times for the club before Arsenal (and soon after) England came calling. The Gunners reportedly "remain confident" of seeing off major interest from Chelsea and potential overtures from Manchester City, Liverpool, Spurs and now Southampton, as this week a meeting is scheduled between Walcott's advisers and Arsenal over what it would take for him to commit his future to the club. It is believed that one of Walcott's reasonings for his refusal in signing a new deal is his unhappiness with the way the club are going forward. Arsenal haven't won a trophy since Walcott signed from Southampton in 2006 and he has seen star players like Ashley Cole, Kolo Toure, Gael Clichy, Samir Nasri, Cesc Fabregas and others leave to win medals elsewhere and earn much higher wages than what he is earning at the Emirates. The final straw for Walcott looks to be the impending exit of Robin Van Persie who similarly only has one year left on his deal and feels the same way as he about looking to leave this summer for pastures new. Veteran Arsenal boss Arsene Wenger is hoping that the signings of Lukas Podolski and Olivier Giroud, plus the attempt to push through the signing of Malaga striker Santi Cazorla will help convince both players that The Gunners are not just a selling club and that they can compete for the title next season.