Arsenal manager Arsene Wenger had earlier assured that the club will not let Theo Walcott go. But it seems the Premier League club is now willing to sell the English player before the current transfer season closes this Friday.
Arsenal have already sold Robin van Persie and Alex Song this season, and Wenger is not keen on keeping anyone who "doesn't want" to stay.
According to reports, the 23-year-old international could be sold for a fee of over £12 million pounds and Manchester City seems to be keen on taking him. Jack Rodwell has been City's only new signing this season and coach Roberto Mancini is on the lookout for a winger to fill in the space left open by Adam Johnson.
Liverpool may also show some interest in the deal.
Walcott joined Arsenal in 2006 from Southampton and has appeared in 220 matches for them.