Liverpool Transfer News: Theo Walcott Targeted Amid Raheem Sterling Exit Rumours

Brendan Rodgers is reportedly "monitoring" Theo Walcott's situation at Arsenal as Liverpool continue their attempts to secure the future of flying winger Raheem Sterling.

Sami Mokbel of the Daily Mail indicates Walcott is looking for a pay rise as he enters the last year of his Gunners contract. He believes the injury-plagued player will aim to secure a deal worth "significantly north of £100,000-per-week," a total Arsenal will be reluctant to pay.

A similar situation rolls on at Anfield, where Liverpool officials are still trying to convince Sterling to commit. Chris Bascombe of The Telegraph reported in February that the Reds had offered the young Englishman a deal "thought to be worth near six figures," but Sterling is yet to squiggle on the dotted line.

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As such, "Rodgers is being forced to consider his options in case Sterling does not sign a new deal after talks were shelved until the end of the season," reported by Matt Law of The Telegraph.

Law also notes Liverpool "made an approach" for Walcott in 2013 before he signed his current deal and that Rodgers continues to watch on intently. He indicates Real Madrid and Bayern Munich are keeping tabs on Sterling.

Nick Sutton of BBC Radio 4 tweeted Friday's coverage from the Mirror:

As noted by Sutton, The Sun's morning headline suggests Manchester City are willing to spend big on Sterling:

Manuel Pellegrini doesn't expect him to come cheap, though, per FIFA.com:

First and foremost, Liverpool fans will be hoping Sterling confirms an extended tenure in the summer. Rodgers has provided him with the opportunity to become a star over the last three seasons, so it would be harsh on the Northern Irish manager to see Sterling move on now he's recognised as a global talent.

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Secondly, it's difficult to suggest Walcott is an upgrade. Sterling has already proven himself to be a responsible, hard-working and multi-functional forward who is more than willing to put the team first.

We saw this during Liverpool's recent 1-0 win over Swansea City, in which he operated just in front of right-sided centre-back Emre Can. He offered defensive support against pacey wide men such as Wayne Routledge and Jefferson Montero, closing any gaps Can was unable to fulfill. Sterling doesn't shy away from the physical battle and is more than capable of contributing in his own half.

Walcott isn't this type of player, nor is he the rampant goalscorer many expected him to be. He enjoyed a particularly sharp season in 2012-13, which just so happened to coincide with the agreement of his current contract, but hasn't appeared as motivated or lethal since inking his extension.

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The 26-year-old has scored 21 Premier League goals and provided 15 assists in 53 appearances across the last three seasons, per WhoScored.com. Not a bad record by any means, but there's still the feeling he is yet to tap into his full potential. Sterling has netted 15 and assisted 13 in 60 Premier League displays across the last two years, but it's vital to remember he is six years younger.

Rodgers is the type of manager who likes to pick up faltering players and massively improve their game; Daniel Sturridge has become one of England's best under the manager's guidance. It's not too far-fetched to suggest Walcott could receive the same treatment, particularly as he appeared his most lethal during a spell as striker before his last contract agreement was made.

"Playing up front is important," said Walcott in 2012, per BBC Sport. "It's one of the main factors for me." Arsene Wenger doesn't often deploy him in this role, so Liverpool's transitional forward three in a 3-4-2-1 formation may appear extremely tempting.

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Wenger recently suggested most of his squad will remain at the club, but that he's looking for positive attitudes, reported by Joe Short of the Express: "Ninety-five percent of the players will still be here next season. And what is important is the attitude of this 95 percent of the players and how much we improve, how much we push on now until the end of the season."

B/R UK's Sam Tighe wouldn't pick Walcott in a potential Liverpool dream team for next season:

While it's easy to push both Walcott and Sterling into the "speedy forward" category, they are remarkably different players.

Rodgers currently has one of the sport's most prodigious talents in his grasp, so it would make sense to bow to Sterling's needs before looking elsewhere. This may show weakness, sure, but special players need special deals.

It would be devastating for Liverpool if Sterling moved on so soon, particularly if his replacement is after the same sort of weekly wage without offering an increase in quality.