The England star has just 18 months to run on his present contract, yet no definite offer has been made.
His advisors have had just one preliminary meeting with club officials but there was no concrete offer or even outline of terms.
Walcott's camp feel he is being taken for granted and the uncertainty over Arsene Wenger's long-term position has also cast a shadow on the teenager's future at The Emirates.
A source close to Walcott said: "There is no doubt Theo is frustrated at the lack of action over a new deal.
"The club said talks would start in October because they wanted to see how Theo started the season.
"Theo accepted that because he has the utmost respect for Arsene Wenger. Most people would agree Theo was one of Arsenal's best players until he picked up his latest shoulder injury.
"He was doing well for both his club and country but still nothing happened on the contract front.
"The fact is, he feels as if he's being taken for granted at the moment, as if people simply expect him to sign a contract."
Sport of the World understands Walcott is also concerned by rumours Wenger might be driven into Real Madrid's arms by the boardroom power struggle at the Emirates. Wenger has been instrumental in Walcott's dev- elopment and the 19-year-old England winger feels a huge bond of loyalty towards his manager.
But he is wary of committing himself to any long-term deal if he feels that boss Wenger could walk away at the end of the season to join the Spanish giants.
Theoretically, he could buy himself out of the last year of his contract in May for £1million - a year's money - but that is not something Walcott or his advisors are contemplating at the moment.
They are hopeful the arrival of new Arsenal chief executive Ivan Gazidis will help speed up talks but there has been no indication so far the club even have a deal structured.
Robin van Persie is another player in limbo at The Emirates after talks on his contract extension stalled.
The 25-year-old Dutch striker - who has hit 10 goals so far this season - felt he was close to agreeing a new £80,000-a-week deal only to be left hanging on by the board.
His agent is now demanding a meeting with Gazidis - not only to thrash out the finer points of a deal but also to find out what Arsenal's transfer plans are in the next month.
There is a feeling within the dressing room that the Gunners' season could implode unless Wenger and the board make substantial moves during the transfer window.
With skipper Cesc Fabregas out for four months with a knee problem and Ivory Coast centre-half Kolo Toure seemingly unsettled, Wenger goes into 2009 facing the most testing time of his Arsenal reign.
This article has 34 comments
We WILL Take OVEr giv us TyM And Sum New SighningS wouldnt Go a MIss WenGER!! like arshvan or yaya toure would boost the team or even teves!! them 3 in aRsenal Bring it on!!
By MonJ . Posted January 9 2009 at 5:29 AM.
get rid of theo NOW!
By Richard Helliwell. Posted January 6 2009 at 6:36 PM.
Arsene Wenger needs to buy a top class player for his team this month and needs to give bigger money for top class. Whatever is going on with theos contract, please get it dealt with. Theo walcott is one of my favourite players and would hate it if he left.
By Hasan Senoglu. Posted January 5 2009 at 11:47 PM.
Why offer an improved contract and pay an injured player more money each week? Theo needs to be patient. When he is healthy again then he will get a new contract. Money doesn't grow on trees. We are a Community owned team not sugar daddy owned. The team is being responsible with its moneyWenger sees your quality.
By david vines. Posted January 5 2009 at 3:21 PM.
arsene knows theo is a world class players will make him a new contract any day unless arsene does go to real madrid which i dont think he will .
COME ON YOU GOOONNEERRRSSS!!
By Daniel. Posted January 4 2009 at 11:29 PM.
Have we seen a silverware from Theo? Have we seen from anyone else? I think not. Has Wenger come out and say i want a new improved contract? No just because the man thinks before he speaks. You signed a contract and you should be faithful, if you don't like it wait till it ends and if we don't offer you something good leave. That's respect from me to you and from you to all of us mr 19 year old big star.
By Xenios. Posted January 4 2009 at 11:01 PM.
Theo is stupid. he knows he is wanted at arsenal. is not like he is contract is going to expire next month!!! Stupid silly boy; he only made fool of himself. In wenger i trust
By Fa. Posted January 4 2009 at 9:57 PM.
why do these football "stars" think that they are worth all this money, and try to get improved contracts when they,ve still got 18 months to run. when a contract has been signed it should be non negotiable until one month from the end.
By alan wilkins. Posted January 4 2009 at 5:48 PM.
Theo should be patient, 18 months, there is still time for the board to think about it, but too, Arsene knows well ' the importance of having Theo in his first 11.
By Badang. Posted January 4 2009 at 5:03 PM.
Theo should be patient, 18 months, there is still time for the board to think about it, but too, Arsene knows well ' the importance of having Theo in his first 11.
By Badang. Posted January 4 2009 at 5:27 PM.
theo why do you think you can be frustrated after one good run against liverpool last season dont get me wrong it was special but your not a natural footballer more like a sprinter . i cant count how many times my mate has told me he's had to shout at you down at the emirates because your confused with the ball .
By myles. Posted January 4 2009 at 4:24 PM.
Theo's shoulder dislocations are a problem. He has a way to go to prove he's good enough and healthy enough to merit a long term contract. RVP must be closer to getting his new contract as his game is developing. He's scoring with his head and his right foot nowadays but will he stay injury free this season?
By ahg. Posted January 4 2009 at 2:02 PM.
To be fair when theo signed, he must have signed as "prospect for the future" now you could argue he is becoming a 1st team regular?! Surely that should reflect in his wages. It isn't theo demanding the money, its its his agent trying to get him a decent wedge. Hope this doens't get bitter ie cashley cole.
By Gary. Posted January 4 2009 at 11:22 AM.
Why haven't Arsenal got any money? Really, what a stupid question. The Stadium. - All those clus you hve listed have not built a £300m stadium.
All the comments slagging Theo off - he hasmn't actually said anything and you're a fool if you believe this story and "A SOURCE CLOSE TO THEO"
YAWN. He doesn't want to leave and he wont leave, nor will VP and i wish some people would grow up and stop throwing their toys and the pram and believing b*llocks like this and on other websites.
We have a stadium to pay for so our funds are limited, they have been for many years. It's not a new thing, we've always spent less than the majority of The Prem and he demonstrates what a fantastic job Arsene has done to keep us challenging each year.
By Merse-10. Posted January 4 2009 at 12:51 PM.
Just why NO ONE EVER point the finger to the Board. Wenger is covering their back but it is their responsibility. And if the club is screwed, it is BLOODY Fizman and co.
By alromeb. Posted January 4 2009 at 12:42 PM.
18 months left! Perform and get rewarded, not DEMAND a new contract(with a huge increase in salary) a year-and-a-half into your ongoing contract.... It's hopeless to be giving players new contracts every year, and at the same time throw a sign-on fee theire way...
By eh. Posted January 4 2009 at 11:55 AM.
Not too bothered about this. He is still a headless chicken at the moment.
By TT. Posted January 4 2009 at 12:12 PM.
yep. arsenal make the right move or sink..
By readie. Posted January 4 2009 at 10:23 AM.
Wenger should buy big in the transfer window. If there is no money then the board should explain to the fans WHY!!! The amount of money made from player sales is huge in recent times compared to players bought. Also i would like to know how much members of the board make each year if they continue to say the club is feeling the credit crunch. It is a shambles at Arsenal! Even poor teams like Boro, Bolton, Spurs, West Ham have spent at least 10x the amount we have in recent times. Are we a top 4 team still?? One wonders!
By Joel. Posted January 4 2009 at 10:45 AM.
Not playing English talent is now back firing straight in Wenger's face!!!!
About time Wenger left our shores and messed around with another countries talent!
By Boshboy. Posted January 4 2009 at 9:40 AM.
PLS TELL US DO THE TEAM INCREASE SALARY EVERY YEAR IN A CONTRACT OR WAIT FOR A NEW CONTRACT TO HAVE WAGES INCREASED? IF SO THEN A BENCH WARMER CAN EARN MORE THAN A PLAYER.
By OBARSE. Posted January 4 2009 at 8:45 AM.
AT ARSENAL WE HAVE FIVE PLAYERS WHO FIGHT FOR THE BALL, CESC-DENILSON-CLICHY-SAGNA -ROSICKY THE REST DO NOT BATTLE HARD ENOUGH.
WHEN IT COMES TO CONTRACT THEY SHOULD BE SHOWN VIDEOS OF WHAT THEIR BALL WATCHING STANCE HAS COST ARSENAL REVENUE WHICH COULD HAVE BEEN USED TO RAISE THEIR WAGES. WIN SILVERWARE AND DEMAND!
By OBARSE. Posted January 4 2009 at 8:52 AM.
Looks like almost everyone is having a go at Arsene Wenger for the teams performance and not signing a big name player. We dont know what goes on in the Boardroom. If he had the funds he would have definitely bought some really good experienced players. But with his limited funds, he has to look at younger, unheard of players. When he had the money, he has bought in players like Pires, Henry, Rosicky, Reyes etc..but now he hasnt got that power to spend. He has done a wonderful job so far I feel with his limited resources. He has taken the blame on himself so far, never pointing a finger the board. Everybody gives a reason when they r criticised for something, just what Le Boss is doing. I think for Arsenal to come up again we have to wait maybe another 2 years or if someone buys Arsenal like the other top 4....We are No1 even without a millionaire. So the Top 1 in the Top 4 is Arsenal.
By Kumar. Posted January 4 2009 at 8:19 AM.
love the quotes from "a source close to Walcott". Who's that?? Someone queing next to him at the supermarket.
By suki. Posted January 4 2009 at 8:29 AM.
Arsenal are sinking fast. I dont think Wenger will go to Real Madrid but i do know several players will leave by the end of this season Big players. RIP Arsenal.
By tom thumb. Posted January 4 2009 at 7:48 AM.
oh dear another big time charlie who has done nothing in the game and won diddly squat at arsenal being taken for a joyride by his advisors and yes men and women just sign whatever arsenal give you and be gratefull theo you havent pulled up any trees at the club your football brain and tactical awareness are shocking even a sunday league player has more know how if i was to make a comparison with someone it would have to be monty panesar both of you are one dimensional with very little in your locker atthe top level
By jimmy. Posted January 4 2009 at 7:03 AM.
I hate arsenal they are the most over rated team in the premiership they are a top 7 team at the most and this year they have been found out, Hard to think they have the second highest wage bill, Who do they have thats worth what they earn , time for fabregas to move on he deserves trophies which he will never get at arsenal
By peter . Posted January 4 2009 at 6:40 AM.
ARSENE WENGER CAN BE AS GOOD AS HE IS BUT WHN IT IS TIME TO GET RID OF YOU HE COMES WITH ALL SORT OF THINGS AND TACTICS O MAKE YOU FEEL SICK.... LOOK WHAT IS DOING TO KOLO TOURE .SOMEONE WHO HAS BEEN THERE FOR 8 YEARS NEARLY NINE AND YOU CANT MAKE HIM CAPTAIN AND YOU ARE SAYING NOW THAT HE CAN ONLY PLAY A FEW GAME DEPENDING ON THE OPPONENT ...WHAT A LOT OF CRAP AND DISRESPECT FOR SOMEONE WHO HELP YOU OUT FOR CHEAP(£150 000 TRANSFER FROM IVORY COAST IN 2OOO) GIVE THE BOY A BREAK AND A STANDING OVATION AT LEAST ...
By deluxe. Posted January 4 2009 at 3:57 AM.
Where does one of our most inconsistent, frustrating players get off making demands like this?
For every sparkling run that pleases the highlights viewers, we season ticket holders have to watch him play terrible for four games. He's lightweight, has poor judgement, a terrible final ball and a very poor footballing brain.
He doesn't hold a candle to a player like Ashley Young.
By Tom Watson. Posted January 4 2009 at 2:30 AM.
I agree with Stephen. Figures his agent has to step in and stick his nose in there worrying about transfer plans. Walcott had his latest injury with his shoulder, which means he;s been hurt a few times before that. He should worry about trying to stay healthy for more then a few weeks at a time before asking for more money he hasnt earned yet.
By Peter. Posted January 4 2009 at 2:12 AM.
Now Walcott is making demands, grow up and win something before you think you are bigger than the club.
By Stephen. Posted January 4 2009 at 1:34 AM.
Dean and Shane, both of you are typically wrong. This guy Theo is a young lad with lots of potential and he should be getting frustrated. A soccer player does not have more than 15 years to play highest peak performance on average, you have to consider injuries and other factors. You also have a great coach (capello) calling on all english players saying if you do not get regular football you will not be featured in my plans thus the national team. Theo did great for england and now what? He should not wait neither should he back down. He should demand regular time football, by wanting to be featured more he is not disrespecting anyone. He has been proven as an assault weapon that does damage with his hattrick. I could careless who made him, all I care for is for him not to be destroyed even if its by who made him. I hope you guys understand!
By Omarious. Posted January 4 2009 at 1:31 AM.
my sentiments exactly shane!!!
By dean. Posted January 4 2009 at 12:42 AM.
Arsene bought him when he was a kid and im sure the Arsenal youth training system has looked after him and played a part in making him the great player he is today. Maybe he should show respect and be patient.
By shane.. Posted January 4 2009 at 12:04 AM.