According to Goal, Theo Walcott has moved a step closer to signing a deal with Arsenal.

Walcott contract talks have been stalled for a while as the winger rejected a deal worth £75,000 per week wanting £100,000. The player according to reports has agreed to reduce his demands to £90,000 and Arsenal looks set to upo theirs to £80,000.

Theo Walcott has always said he loved the club and wants to stay if they can both reach an agreement. With things working out this way, Walcott could put pen to paper by Christmas and would not go the way of Robin van Persie and Samir Nasri

Arsene Wenger has also said he would not sell Walcott in January and expects him to make a decision before Christmas. Wenger has also assured Walcott of a striker role if he stays

http://www.arsetalks.com/2012/11/report-walcott-set-to-extend-contract.html