From BBC:

"Arsenal are set to win the £15m race for highly-rated Southampton teenager Theo Walcott, BBC Sport understands.
Saints chairman Rupert Lowe was at Arsenal's training ground on Thursday, when it is believed a deal for the 16-year-old striker was agreed.

The fee could be as much as £15m, with Walcott possibly returning to Southampton on loan or current Gunners players switching to the south coast.

Chelsea are still interested, but it is understood the player prefers Arsenal.

The Premiership champions are so keen on Walcott that they have told Saints they will better any offer made by their London rivals."

Yet there he is on the Saints website TODAY saying Theo's gonna stay, and blah blah blah... no desire to build a quality team around homegrown talent, no chance of ever making the Premier League again... no fuckin' fan support.

We'll take the money, buy a bunch of veterans to cement our mid-table mediocrity... only this year it's a division too low.