Theo Walcott

Theo Walcott has reportedly edged closer to signing a new deal with Arsenal, after contract negotiations between both parties reached a breakthrough.

The England international has been in the spotlight this season due to concerns over his future at the Emirates. The forward is into his final year of contract and is yet to agree on an extension with the Gunners, meaning he would be free to start negotiations with other clubs once the transfer window opens on 1 January.

It is understood that Arsenal proposed a £75,000-per-week salary to Walcott in his new contract but the 23-year-old turned down the offer as he was looking for a figure around £1,00,000. However, both parties are now close to reaching a compromise, which will see Walcott featuring more in his preferred central forward role and earning £90,000-per-week, reports

Walcott has been keen on the main striker role for sometime now. The report claims the demand has been accepted by Arsene Wenger and as a result the player could now sign a new five year deal with the club. The Gunners boss had recently made it clear that Arsenal will not sell Walcott in January, irrespective of whether the Englishman agrees on an extension or not.

The former Southampton star has been in exceptional form in recent weeks and is now Arsenal's top scorer with nine goals in all competitions from 15 appearances. The forward also played a major role in the 5-2 derby win against Tottenham Hotspur, where he also netted the team's fifth goal.

"We showed people how good we are. It'll give us tremendous spirit, we've got a lot of players back to fitness and everybody's very confident. If we show that courage and ambition every game we will climb up the table. I've just wanted to play. Hopefully I'm showing people what I can do now," the forward explained.

Walcott has also been linked with a move to both Liverpool and Chelsea. If the player extends his stay with the north London club, it would be an advantage for Wenger as he looks to finish in top four yet again, amid some tough competition.