Walcott was in dispute over a new deal with the player wanting to be played as a centre forward by Arsene Wenger.
The news may prompt Wenger to become active again in the transfer market.
What is your opinion? Feel free to discuss the article under. You have to comment by using your Facebook profile. Be fair and have respect for other people and opinions!
Liverpool have unveiled their new home kit for next season, sticking with the hugely popular retro styling of the current shirt.
The reputation of the Premier League means it is the most popular and one of the most watched leagues in the world.