Anxious to keep his blossoming prodigy, manager Arsene Wenger is reportedly prepared to double Walcott's salary to £60,000-a-week, say the News of the World, as interest from Chelsea and Real Madrid continues to grow.
With only 18 months left on his contract it is likely a deal will be fast-tracked, but with Walcott admitting he is happy where he is, Wenger will not be too concerned about the 19-year-old jumping ship.
Walcott signed for Arsenal in 2006 from Southampton with a price tag of £12m and the last few months have seen him transform into one of the club's star assets.
Aside from his remarkable performances for Arsenal, he also turned heads when he became England's youngest international to score a hat-trick in their 2010 World Cup qualifier against Croatia.
Further good news for Arsenal and Wenger is that Robin van Persie looks likely to rebuff interest from Italy in order to pledge his future to the club.
The Dutchman is said to want his salary doubled to £80,000-a-week. Van Persie joined Arsenal in a £3m deal back in 2004 and has scored 33 goals in 97 appearances for the club.(Telegraph)
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