BREAKING NEWS: Theo Walcott Signs New Deal At Arsenal

Theo Walcott has signed a new three-and-a-half year contract with Arsenal, worth £100,000 a week.The 23-year-old England forward, who is in the final six months of his current deal, rejected a five-year offer worth £75,000 a week in August.

Talks stalled after Walcott turned down Arsenal's summer proposal but progress was made in the last two weeks.

Walcott - who has recently been used as a striker - has scored 14 goals in 24 games this season.

Arsenal lawyers and the player's advisors spent all of Thursday in negotiations before agreeing on most issues by 19:00 GMT.