North London giant Arsenal are preparing to cash in on England international Theo Walcott in January – as manager Arsene Wenger looks to sell off some of his flops.

The England international winger has become a bit-part mamver of the team in recent seasons, and is not part of Wenger’s first-team plans.

Theo Walcott has attracted suitors from a couple of English Premier League clubs, including Everton and West Ham..

The winger has just 18-months remaining on his £110,000-weekly contract, and is one of the side’s highest earners, as reported by TeamTalk.

But the North Londoners do not want another situation like that of Alexis Sanchez and German Mesut Ozil, who are refusing to renew their deals.

Both stars can leave for nothing at the end of the season, with top clubs like Manchester United, Manchester City and Paris Saint Germain looking at signing the Chilean.

United boss Jose Mourinho is also looking at trying to snatch away Mesut Ozil on a free transfer, with the lure of a massive sign on bonus.

Theo Walcott is believed to be considering his playing future, with the FIFA World Cup in Russia coming up next summer.

The forward would rather leave now, and secure a place with England, then sit on the Emirates Stadium bench for the remainder of the League season.