West Ham United have reportedly put together a financial package to sign Theo Walcott from Arsenal in the summer.

Co-chairman David Sullivan revealed earlier today that as well as bidding £24m for a player in France, the Hammers also had eyes on a £25m-rated England-based footballer.

Sullivan refused to reveal the identity of said player, but according to Football Insider, he was referring to England international Walcott.

The report adds that the Hammers are prepared to offer the attacker a £120,000-a-week four-year contract, which would take the total cost of the deal to £50m.

Walcott, 27, has scored nine goals from his 42 appearances for the Gunners in all competitions this term.