Via ESPNFC-Theo Walcott's future at Arsenal appears in doubt as widespread reports claim manager Arsene Wenger has given the forward an ultimatum ahead of the close of the transfer window.
Walcott, 23, has less than 12 months remaining on his current contract at Arsenal, and the club risk losing him on a free transfer next summer if they do not tie him down on a new deal.
It is claimed in a number of newspapers that Wenger has given the England international 48 hours to decide if he wants to extend his stay in North London, or otherwise be sold for around £12 million.
Further reports suggest Walcott's representatives have turned down the offer of a five-year deal worth £75,000-a-week, paving the way for a sale.
Manchester City and Liverpool have both been linked with the attacker, after the former's pursuit of Swansea's Scott Sinclair appeared to fall through on Tuesday.
Walcott signed for the Gunners from Southampton in 2006 and has since made 222 appearances in all competitions, scoring 42 goals.
Wenger has already seen Robin van Persie leave for Manchester United this summer, while Alex Song has also departed for Barcelona.
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