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Chelsea are reportedly preparing a bid for Theo Walcott after monitoring the winger's situation at Arsenal over the past few months.

Chelsea are reportedly preparing a bid for Arsenal winger Theo Walcott.

The 23-year-old has one year remaining on his current contract at the Emirates Stadium and the club are said to have stalled talks over a new deal.

Arsenal could be willing to sell Walcott for £15m and, after monitoring the player's situation closely for the past few months, Chelsea are now poised to make an official approach for him, according to The Mirror.

Walcott scored 11 goals for the Gunners in all competitions last season.

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