Arsenal have reportedly chosen to hold out for a £30m fee for out-of-favour striker Theo Walcott.

Since the start of the campaign, Walcott has only made five substitute outings in the Premier League, with his only starts coming in the EFL Cup and Europa League.

The 28-year-old has just 18 months left on his deal, and although manager Arsene Wenger has claimed that he wants the attacker to stay at the Emirates Stadium, the Englishman continued to be linked with a transfer.

But, as reported by The Sun, the North Londoners have decided that they are not ready to part ways with Walcott on the cheap and will only weigh offers of £30m or more.

The Saints are known to be interested in their ex-player. However, Walcott is allegedly against joining the struggling South-coast side on a permanent basis.

AC Milan and Everton are also believed to be targeting the striker. However, neither club are expected to be willing to meet Arsenal’s asking price.

Meawnhile, Arsenal have reportedly joined the hunt to land Hoffenheim star Kerem Demirbay during the January transfer window.

Demirbay’s displays have drawn interest from teams across Europe this campaign, with the 24-year-old having scored two goals and made four assists in his 18 leagues and Europa League games.

Demirbay’s form earlier in the term also earned him a maiden call-up to the Germany team, winning his first two caps and netting his first goal for his nation in June.

Everton have earlier been linked with the player, and Newsmondo now stories that Arsenal could battle with the Toffees for his services this month.

The North Londoners are looking to reinforce their midfield options given the uncertain contract situations surrounding Alexis Sanchez, Mesut Ozil and Jack Wilshere, while the likes of Aaron Ramsey and Santi Cazorla are currently out through injury.

The midfielder has helped Hoffenheim to be seventh in the Bundesliga standings so far this campaign, just two points off the Champions League spots.