Gunners close in on Saints starlet Walcott

ARSENAL manager Arsene Wenger hopes to have a decision on his bid to sign Theo Walcott from Southampton “in the next 24 hours.”

The Gunners are understood to have tabled a formal offer for the sought-after Saints striker, in a deal which could be worth £12.5 million (€18.1 million).

The Coca-Cola Championship club confirmed earlier this week bids from two “top Premiership clubs” had been received.

Chelsea are believed to be the other interested party, while Tottenham manager Martin Jol yesterday revealed his club have also inquired about the teenager’s availability.

Arsenal, though, seem to be at the head of the queue - with the 16-year-old thought keenest to further his career in north London.

Wenger said: “We are very heavily in the race. But nothing is done - and as long as nothing is signed, you cannot talk about it.”

“We are hoping to get a decision in the next 24 hours,” Wenger told the club’s website.

Neither Arsenal nor Southampton made any official announcements yesterday but it has been widely suggested Walcott will be unveiled by the Gunners at their regular pre-match press conference tomorrow.

As a public limited company, Southampton are obliged to inform the London Stock Exchange when any deal has been completed - and that could happen this morning.

Chelsea are said to have offered more than the initial £4.5m (€6.5m) reported to be on the table from the Gunners, which would rise to around £12m (€17.4m) based on appearances and the players’ development.

However, it is that opportunity to further his career with regular rather than sporadic tastes of first-team football which may prove key to Walcott’s decision.

A player of his age can sign a deal for a maximum of three years, with the option to extend the contract in the near future.

Walcott, though, cannot technically sign a professional contract with Gunners until his 17th birthday on March 16.

Wenger last week admitted allowing the young striker to stay at St Mary’s for the rest of the season would “not be a deal breaker.” But latest indications are that is a non-starter, with the Arsenal manager keen Walcott should not to be stretched and risk injury in the Championship.

Arsenal travel to Everton on Saturday facing a selection crisis in defence.

Wenger revealed England left-back Ashley Cole - who had been out for three and a half months - injured a thigh muscle during his return to action in the 7-0 win over Middlesbrough and is expected to be missing for around two weeks, but could return for the FA Cup fourth-round tie at Bolton. Pascal Cygan has already been ruled out for three weeks with a hamstring injury. Centre-back Sol Campbell (ankle) is expected to need a fitness test.