Arsenal are set to hijack Chelsea and Liverpool's bid to sign Wigan Athletic forward Victor Moses, if Theo Walcott refuses to sign a new contract, reports the Daily Star.

The 21-year-old Latics starlet is one of the most sought-after players in the Premier League this summer, after a string of scintillating displays that helped keep manager Roberto Martinez's side in the top-flight last season.

Blues boss Roberto Di Matteo is keen to bring Moses to Stamford Bridge, as he looks to further reinforce his front line following the departure of Didier Drogba.

Meanwhile, Brendan Rodgers also has his sights set on the former Crystal Palace winger, to strengthen his attacking options at Anfield ahead of the Reds' 2012-13 campaign.

Chelsea and Liverpool were expected to battle it out in a two-way race for Moses' signature, but now Gunners boss Arsene Wenger is preparing to lodge a rival bid.

The Nigerian international is out of contract next summer, but is still valued by Wigan chairman Dave Whelan at £12million.

Despite the inflated fee, Arsenal may see the move as more cost effective than offering Walcott the £100,000-a-week contract he is craving, to prolong his stay at the Emirates Stadium.

Wenger is prepared to give the England international a four-year deal worth around £70,000-a-week, but is unlikely to go any higher. If the 23-year-old is unwilling to accept those terms then he could be sold for around £15million.

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