It is widely believed (and surely inevitable) that 2 of the clubs involved are Arsenal and Chelsea. Other clubs thought to be interested include Man Utd, Liverpool, and Tottenham, two of which might be in with a chance. But in truth any club would be interested, it's just a question of who's got enough money, and (hopefully) of how much Saints allow the player to make the decision.

All the gossip suggests that Walcott would make a footballing rather than a financial decision (let's face it, whatever happens the lad's going to end up rich beyond his wildest dreams), and that that decision would favour Arsenal. One can but hope.

Saints chairman Rupert Lowe is quoted as saying, "Rupert Lowe said: "We have now received a couple of offers and the indications are another may follow. These have not been accepted or rejected at this stage." The article goes on to suggest that although the Hampshire club is keen to hold onto Walcott, they will also, "... be wary that Walcott could walk out and go to tribunal if he does not get the move he wants."

This article and others say that Lowe is in the process of consulting the other directors of his club.

Clubcall speculate that Southampton have asked Arsenal to restructure their bid, which is rumoured to consist of £5m up front plus a possible £7m in extras (appearance-related etc), and that they'd want Walcott back on loan for the rest of the season as well as another Arsenal player. Speculation it may be, but it makes a lot of sense - getting a quality player if only temporarily could help them make a great deal more money, if it helps them back into the Premiership.

Meanwhile new signing Emmanuel Adebayor has revealed that Tottenham made a late bid to steal him from under Arsenal's noses, saying, "I met a Tottenham official last Friday morning. But my heart was already at Arsenal."