Southampton agree Theo Walcott terms

Southampton have reportedly agreed terms with Arsenal forward Theo Walcott and the two clubs are set to thrash out financial terms with regards to a January transfer move for the England international. Walcott had previously indicated that he would prefer to stay at Arsenal.

Walcott, who has this season struggled to find game time despite the indifferent form of Arsenal's current striking options of Danny Welbeck, Olivier Giroud and Alexandre Lacazette, is rumoured to have agreed a three year contract with Southampton and now it is up to Arsenal to accept a fee for the forward.

The 28-year-old, who has 18 months remaining on his Gunners deal, is now ready to leave the Emirates and return to his former club in a reported £21 million deal.

Walcott is set to be Southampton's first January transfer arrival and the Saints are to use a significant chunk of the £75 million received for Virgil Van Dijk to sign the Arsenal man.

Walcott had previously indicated that he would prefer a loan move away from Arsenal.