Arsenal boss Arsene Wenger has revealed that the club are close to finalising a contract extension for Theo Walcott.

Reports have suggested that the 26-year-old has agreed a new four-year deal to remain with the Gunners, which includes wages of £100,000 per week.

Wenger has insisted that the contract is not over the line yet, but he is optimistic that it will be completed in the near future.

The Frenchman told reporters: "Not yet but we're getting closer and closer. Hopefully we can finalise it very soon."

Walcott scored the only goal of the game to guide Arsenal to a 1-0 victory over Wolfsburg in the Emirates Cup.