West Ham United have sounded out Arsenal over a potential £25million deal for Theo Walcott, reports the Evening Standard.
The Gunners are believed to be closing in on a deal for Leicester City star Jamie Vardy after they were invited to meet his £20m release clause by his representatives.
And it is understood that the very same agency are now trying to get Walcott out of the Emirates, knowing full well that Vardy's arrival will only serve to push him further down the pecking order.
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Walcott fell out of favour under Arsene Wenger towards the end of last season, dropping behind youngster Alex Iwobi in the pecking order.
It now appears that the Frenchman is unable to trust the 27-year-old in either a wide position or as a central striker, where Olivier Giroud retained his place despite his own spell of poor form.
Vardy's seemingly imminent arrival is another disappointment for Walcott, who could find himself completely out in the cold if he does not leave. Indeed, the fact that he missed out on England's Euro 2016 squad has forced him to consider his options.
And West Ham would prove an attractive proposition for the former Southampton starlet. They move to the Olympic Stadium next season, will compete in the Europa League and can offer him a much more prominent role in the starting XI.
Waiting for go
The chance to earn back the transfer fee they may pay for Vardy makes selling Walcott an attractive proposition for Wenger. He appears to have little use for the speedy winger and will be aware that his £140,000-a-week wages are taking up valuable resources.
However, Wenger is unlikely to give the £25m deal the go-ahead until Vardy is in an Arsenal shirt. As of Monday afternoon, it appears that is still very much up in the air.
The 29-year-old striker was pictured boarding England's flight to France with no decision yet made on his future. It is believed Arsenal have offered a three-year, £120,000-a-week contract with the option for a fourth year. Leicester have countered the offer with a £100,000-a-week deal of their own.
However, Arsenal's pedigree surely makes them favourite and Vardy will have a hard time turning them down. Once a decision is made, he will have to undergo routine medical checks in France, but England manager Roy Hodgson has made it clear that, once the tournament starts on Friday, all transfer activity is banned.