It promises to be a busy summer for West Ham United, who aren't only moving grounds but plotting a move up the table next season.
On Monday, co-chairman David Sullivan confirmed a €30 million striker bid has already been lodged, with a £20 million-£25 million offer for a player based in England to follow.
The 27-year-old was tipped to become a superstar of English football upon moving to north London from Southampton a decade ago.
However, things haven't quite panned out that way, with injuries perhaps hindering Walcott's progress.
His continued presence in Roy Hodgson's Three Lions squads - not to mention the mooted £20 million transfer fee - suggests we shouldn't give up on the Arsenal number 14 yet.
Perhaps a change of scenery is required?
Some fans - of both clubs - would appear to agree with that, though others aren't quite so optimistic.
Here's the view from both camps on Twitter...
What the Gunners think:
Walcott can leave #AFC with my blessing, served us well over the years but sadly not good enough. Never fulfilled his potential tbh.— Dan Bonham (@DanBonzo) 9 May 2016
Really hope this Walcott sale rumour has grounds to it. Sling your hook.— ⚽️ is a Country (@FutbolsaCountry) 9 May 2016
Bin Walcott if we can get £20M+ for him.— JB (@OziLogic) 9 May 2016
If Walcott does go to West Ham he's instantly their best player.... yep even better than the free-kick merchant.— Invincible (@UnrealMonrealFC) 9 May 2016
Walcott to West Ham? Don't believe it but he's found his level— Olly (@Giroudesque) 9 May 2016
Walcott to West Ham!? For 24m!? Hahahahahahavehim, sell him on the first day of the transfer window before they change their mind— TANK RODDERS (@vinorodders) 9 May 2016
If Arsenal can get 20million from west ham for Walcott I'll personally deliver him there myself— #DOROBOOGIE (@BigBoogs_SK) 9 May 2016
I could see walcott scoring a few goals for west ham. All of those goals will be against Arsenal of course— Kevïn Chäsm (@drkencham) 9 May 2016
Be great if we sign Walcott tbf— Reece Smith (@Smithy_WHU) 9 May 2016
What the Hammers think:
If the £30 million player is Walcott I will refund my season ticket to fund the immediate release of him— RIP Jihadi Dom ⚒⚒ (@iamDomOConnell6) 9 May 2016
Theo Walcott to West Ham ?? No thanks ... the guy's an absolute DONKEY - and we've had enough of those in the past ...— Starrs_Keith (@Starrs_Keith) 9 May 2016
Please don't let it be Walcott— choppo WHU ⚒ (@paulmorrish) 9 May 2016
Walcott to West Ham is...odd but him and Payet down the wings has the potential to be deadly. #COYI— Aiden Boyer (@Aiden_TheJobber) 9 May 2016
We better not sign Walcott,Bony,Benteke or even Batshuayi for the money we're spending— Arthur Powell (@arthurpowell50) 9 May 2016