Arsenal have reportedly come to an agreement with Theo Walcott that means the winger will not be sold before Friday night's transfer deadline.

Speculation had claimed that the England international, who has 12 months remaining on his current contract at the Emirates Stadium, had decided to leave the Gunners.

That was said to have alerted both Liverpool and Manchester City, who are believed to be keen on signing the 23-year-old.

However, following a series of discussions, manager Arsene Wenger has managed to convince Walcott to remain with the club until January at least.

Contract talks are now expected to continue between the two parties over the coming weeks.