Arsenal have reportedly identified Jesus Navas as a replacement for Theo Walcott.
The Sevilla winger has a £35m buy-out clause in his contract but could be available for around half that total, according to the Daily Star.
Walcott is reportedly unsettled after negotiations over a new deal stalled this summer and the 23-year-old only has a year remaining on his current contract at the Emirates Stadium.
However, Arsenal may be considering selling Walcott to ensure that he does not leave for free next year.
Spanish newspaper AS has claimed that Gunners midfielder Santi Cazorla is trying to persuade Arsene Wenger to make a move for Navas in the near future.
