Theo Walcott not want to play Arsenal, so the money as an excuse, want to leave and sign with Liverpool.

Arsenal winger Theo Walcott will remain at the Gunners over the 2012/13 English Premier League season, according to latest reports putting to an end any talk about a potential move by the England international over the summer transfer window.

Walcott was believed to have attracted interest from Chelsea, Liverpool and Manchester City about a potential move this summer, but according to multiple media outlets, the 23-year old will not leave the Emirates before the transfer deadline closes in two days time.

Theo Walcott was told by the Arsenal manager, Arsène Wenger, yesterday that the club have backed down from their ultimatum that he must sign a new deal before tomorrow’s 11pm transfer window deadline or face the prospect of being sold.

Walcott was incredulous at Arsenal’s ultimatum, delivered last Friday, given he has never expressed desire to leave the club.

It has always been his intention to sign a new deal, although not necessarily before the end of the current transfer window, and relations had previously been smooth between club and player until the last seven days.

The north London club are now hopeful that they can reach agreement with Walcott on a new deal over the next few weeks and want to leave the events of the last few days behind them. Wenger will be a crucial figure in smoothing over the relationship between the player and the club.

Despite interest from  Liverpool in particular about a potential move.

It was initially reported that the Gunners told Walcott to sign the new £75,000 per week deal on the table or leave before tomorrow’s transfer deadline.

Now, however, Arsenal will run the risk of the 23-year-old leaving on a free next summer by hoping to reach an agreement over the coming months.

Walcott is thought to be holding out for wages of £100,000 per week, with the impasse alerting the attention of Liverpool