Theo Walcott won't make or break Arsenal's 2012 season, but it must re-sign the striker for many reasons.
According to Mirror Online, "Walcott and his representatives will sit down with Arsenal chief negotiator Dick Law as soon as the three parties are back in London."
Rumors have surfaced that Arsenal would look to replace the 23-year-old right winger with German stirker Lewis Holtby if the sides cannot come to terms on a long-term agreement.
Walcott has one year left on his current deal, but deserves more money after turning two solid seasons with the Gunners in 2010 and 2011.
Two years ago, Walcott appeared in 25 matches for Arsenal and scored nine goals with eight assists. Last year, in a more prominent role, the speedy striker scored eight goals with 11 assists in 35 appearances.
Holtby, his potential replacement, scored only nine goals with three assists in 32 appearances during the 2011-2012 season.
The 21-year-old midfielder has a promising future, but there's no guarantee he'll sign with Arsenal. Holtby had this to say when discussing his future with Schalke, according to Mirror Online: "I like it at Schalke. I will give my best in training and the manager will decide if I am a first team player.”
That article points out that Holtby is in the same situation as Walcott, with a year left on his contract. It sounds like his respective club is deciding whether or not to re-sign him as well.
Arsenal knows what it's getting with Walcott. He's a young, dynamic playmaker who has improved in each of his last two seasons. It certainly cannot afford to lose him for nothing next summer. Moreover, Arsenal aren't assured it will be able to acquire Holtby, either.
So, it's obvious.
Walcott should be re-signed.