Southampton have reportedly turned down a £12 million bid from Arsenal for Theo Walcott.

The highly-rated 16-year-old has attracted plenty of attention this season and had been expected to join Arsenal during the transfer window.

However, Southampton manager George Burley has reiterated his desire to keep Walcott at St Mary’s for the time being.

“At the moment, he is in the best place and is doing tremendously,” Burley said.

“The best thing for his future is to stay here at Southampton. To have his talent at such a young age is tremendous.”

Arsenal manager Arsene Wenger has spoken enthusiasticallly about the youngster.

“He’s a player we rate,” said Wenger at his weekly news conference.

“I rate him personally and we are looking at him, yes.

“Ideally we would want Theo to join us straight away. But it would not be a deal-breaker if Southampton say they want him to finish the season there.”

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