Despite widespread assumptions by pretty much everyone that he'd be shown the door this summer, the Telegraph's Matt Law reports that Theo Walcott may remain at Arsenal for at least another year – though the experiment of allowing him to play at his preferred central striker position would likely be over. Walcott met with Arsène Wenger at the close of the season to discuss his future, and both agreed that competing for a place on the right wing would be best for player and club.
According to Law, Walcott "now accepts he fits better into Wenger’s side out wide and wants to concentrate on trying to make the position his own." This is in part because Arsenal is committed to bringing in another central striker this summer, whether or not Jamie Vardy decides to join the club.
If accurate, this could spell the end of Alex Oxlade-Chamberlain at Arsenal, but considering Walcott's history of injuries (not to mention The OC's), that may also be premature. At the moment, it's a little hard to know what the final shape of things might be with all these moving pieces.