Arsenal will reportedly be unable to finalise negotiations with winger Theo Walcott over a new contract before the New Year.
Gunners boss Arsene Wenger previously claimed that he hoped for Walcott's situation to be resolved by Christmas as the England international continues to stall on a new deal.
It is understood that discussions will continue into 2013 and from January 1 the 23-year-old can sign a pre-contract agreement with another club, according to BBC Sport.
Liverpool, Manchester United, Chelsea and Manchester City are all thought to be monitoring the player's situation.
