In a transfer season that's seen very few bits of positive news for Arsenal, the outlook for the North London club could be about to get worse.
If successful, the Gunners could be officially on their knees, considering the seemingly inevitable losses of Samir Nasri, Gael Clichy, and Cesc Fabregas in the near future.
Arsenal manager Arsene Wenger has publicly asked fans to remain patient as he regains control of the dismal transfer outlook, suggesting that a careful strategy is involved in the events that have unfolded thus far. But such an idea seems less likely by the day.
The Gunners signed Walcott in 2006, originally luring him from Chelsea in the first place. But having fallen out of favor with Wenger, his lack of first-team starts for the club have led to a resentment that the Daily Mail suggests could result in Walcott being quick to accept a deal with Chelsea if they launch such a bid.
Even worse: The Guardian is also reporting today that Robin van Persie is growing worried about the state of the club, hinting at a possible exodus of his own if so many of his key teammates disappear.
And with Walcott added to the list of potential exits, that makes four major components of Wenger's squad that could be on the move.
If Van Persie does wind up requesting a transfer, it could be safe to say that the Arsenal ship is sunk. And with Arsene Wenger also linked to Qatari Sports Investment's newly purchased Paris St-Germain squad in his home country (though he has admittedly stated he is not interested), many are wondering if even he could be set to bail in Arsenal's darkest moments.