Arsenal are considering a shock move in signing Liverpool star Raheem Sterling in the summer, according to the Mirror.

The Reds manager Brendan Rodgers has already confirmed that the 20-year-old has put his contract talks on hold until the end of this season. The winger's contract runs down in 2017 and the player's employers fear he will not sign a new deal.

The winger is currently earning £35,000-a-week at the Merseyside club. Liverpool are willing to hand him an improved deal, which will see him earn £90,000-a-week.

Sterling's situation at Anfield has alerted the Gunners, who are hoping to lure him to make a switch to north London. Arsenal manage Arsene Wenger has long been an admirer of the England international and is looking to take advantage of his situation at Liverpool.

Earlier in December, the Frenchman heaped praise on Sterling after claiming the Reds star is one of the best players in the country.

"I rate him highly, Sterling. Everybody speaks about Suarez last year, but let's not forget Sturridge and Sterling are very, very influential. I think he is one of the great players in England," Wenger said.

Arsenal star Theo Walcott's contract situation is also up in the air. He has 15 months left on his current deal and the player has confirmed the Gunners have not offered him a new deal. However, Wenger revealed the club is looking to secure the forward's future at the Emirates.

Walcott's future at Arsenal has alerted Liverpool and Manchester United, who could make an approach after this term. The Telegraph reports a swap deal could be an option, which could see Sterling join Arsenal and his compatriot leave the Gunners for Liverpool.

Walcott has seen his first team appearances limited after returning from a long spell on the sidelines. Lack of playing time at the Emirates could force Walcott to consider his future and push for a transfer in the summer.

The Telegraph also claims Rodgers could be open to the idea for a player-plus-cash swap deal, if Sterling refuses to commit his future to Liverpool. Sterling has been a key player at Anfield and should he leave the club, it will be a massive blow for the Reds next season.