Theo Walcott and Arsenal to begin formal talks as Liverpool look on

England international will have just a year to run on his existing deal this summer

Theo Walcott (GETTY IMAGES)

Arsenal and Theo Walcott are reportedly set to begin formal contract talks over the next fortnight.

The England international will have just 12 months to run on his existing deal this summer, meaning if an agreement cannot be struck, Arsenal could look to sell Walcott rather than letting him go for free a year down the line.

Liverpool are understood to be paying close attention with Brendan Rodgers viewing the 26-year-old seen as a suitable addition to his squad, particularly with uncertainty around Raheem Sterling.

Talks between Walcott and Arsenal could be difficult, with both parties firing early warning shots.

Arsene Wenger told the press that the player he signed from Southampton can be "difficult" to deal with regarding contracts, saying: "We have started very early with him. He is very quick on the pitch, but off the pitch not always."

However, Walcott then took to Twitter to deny talks had begun whilst also denying claims that he had been involved in a bust-up with the Arsenal manager.

The Telegraph report talks will be held between Arsenal's FA Cup semi-final with Reading this Saturday and their Premier League game with Hull at the start of May.