Ligue 1 outfit Monaco are weighing up a £34m bid for Arsenal winger Theo Walcott, according to the Daily Mail.
The 24-year-old, who signed a three-and-a-half deal with the Gunners last season, has been identified by the big-spending French-registered club as a potential January transfer target.
Walcott has missed the Gunners' last nine matches with an abdominal strain and may have a difficult task to break back into Arsenal's starting line-up when he returns from injury.
The north London outfit currently top the Premier League table and are undefeated in the competition since Walcott was injured against Marseille in mid-September.
Such a huge offer could tempt Arsenal to sell, although reports suggest that Arsene Wenger is unlikely to allow the England international to leave the Emirates Stadium.
Monaco were among the biggest spenders in Europe this summer, splashing out a fortune on several highly-rated players including James Rodríguez, João Moutinho and prolific striker Radamel Falco.
Will Walcott become their latest high-profile acquisition?