In the wake of Robin van Persie's announcement that he would not sign a new contract with Arsenal, many believe that Walcott will do the same and try to leave the team.
Should Arsenal decide to sell Walcott now, they could avoid losing him for nothing next summer. He should bring in some hefty bids, perhaps as high as £15 million.
Assuming Liverpool actually is the favorite and wants to bring him in, it would be a great move for the Reds.
At only 23 years old, Walcott has plenty of room to get even better. Considering the Reds are probably a year or two away from contention, adding a young player like that could be very valuable to their future. That doesn't mean Walcott isn't a very good player right now.
He's an incredible athlete who uses his speed, agility and raw talent to attack from the right wing. He's not an elite scorer, but he can certainly put the ball in the net when necessary. He scored nine goals last year for Arsenal, a solid number from a supporting scorer.
He's also a crafty passer who knows how to put the ball in the right position. He had 11 assists last year and seems poised to improve on that number.
Overall though, what makes Walcott so good is his relentless aggressiveness. He is always on the attack in some form or another. Whether it's by getting the ball to his teammates or by going for the goal on his own, Walcott is always on the move.
Not only would he be a welcome addition to Liverpool, there is also the advantage of taking him away from Arsenal. Getting a star player always helps your team, but when you can hurt another team in your league it only makes things better.
The main consideration now is price. According to Goal.com, Walcott wants a contract worth £100,000 per week, a hefty number. If they were to go after him now, Liverpool would also have to pay a transfer fee of approximately £15 million.
The Reds have to decide if they want to use that money on him. I personally would, but they may have other players in mind.
New manager Brendan Rodgers has done a solid job so far in Liverpool. He's starting to craft the team in the image he wants for the future. Adding a young stud like Walcott will only help them moving forward.