Theo Walcott will soon open talks with Arsenal regarding a possible contract extension.

The Daily Mail reports that the 26-year old forward is set for formal talks with the Gunners who are looking to tie him down past his current contract expiration of June 2016.

Manchester City and Liverpool are showing interest in Walcott but Arsene Wenger is keen to discuss the England international's future at the Emirates Stadium.

There have been rumours regarding a possible swap-deal with Liverpool's Raheem Sterling but whether Walcott remains in north London or not is likely to be determined by these conversations.