Walcott joins Gunners as £5m scholar

Arsenal have completed the signing of teenage striker Theo Walcott from Southampton, in a deal which could eventually cost £12m (€17.5m).

Walcott cannot sign a professional contract with Gunners until his 17th birthday on March 16, and so will join the Barclays Premiership club as a scholar until then after they paid Saints an initial fee of £5m (€7.3m).