Theo Walcott has just one year left on his contract.

We all know this.

We all also know that he likes to drag things out as he attempts to get his way so while negotiations are underway, Arsene Wenger has already admitted that there are no updates and they are not close to securing a deal.

As we know from the last saga, Theo has no problems with taking it all down to the wire and it seems like Wenger is happy enough for that to happen as well.

Admitting that he wants the player to stay and the player himself wants to remain, you’d think there’d be no problem in getting an agreement, but we must not forget that Theo has delusions of grandeur and is probably demanding parity with the club’s best paid players, Mesut Ozil and Alexis Sanchez, both on £140k per week.

Speaking to the media on Friday ahead of the game against Swansea, Wenger said that he is focused on getting him to sign but should they fail, he will address that in December.

What does that mean? Well, it doesn’t take a genius to work out that it means he would be sold in January, the last chance for the Gunners to get some money for him.

It’s doubtful that it will come to that, however.

“No [there are not any updates on Walcott’s contract]. 

“Yes. We are already talking to him.

“Today I’m not in that kind of mode of thinking [about selling him] because I just think I want him to stay. When you go into negotiations with a player it is with a desire for him to stay. He looks keen to do it and I am keen to do it, so let’s see what comes out. 

“The press is always focusing on what you do in case of failure. We are always in the mode where we want to be successful. In case of failure, we’ll see but in case of failure – that will only be in December next year.”

I think Arsene meant ‘December next season’ because December next year would see Theo six months past his contract expiration date.