Arsenal are preparing themselves for a £30 million bid from Everton for Theo Walcott according to the Mirror.

Toffees boss Ronald Koeman wants to land a winger to replace Yannick Bolasie who is still sidelined through injury and has targeted Walcott, who has fallen down the pecking order at the Emirates.

The England international is currently in action on Arsenal’s pre-season tour of Australia.

Everton have also been credited with an interest in Leicester City youngster Demarai Gray, who himself was in and out of the Foxes’ team last season.

In a summer of spending Koeman is still eyeing a deal for Swansea attacking midfielder Gylfi Sigurdsson, as he continues his attempt to re-build the Everton squad.

Through the backing of Farhad Moshiri and the sale of Romelu Lukaku to Manchester United, Everton have money to spend this summer as they attempt to bridge the gap to the Premier League’s elite.