Southampton have rubbished rumours that Arsenal have won the race to sign their 16-year-old superstar Theo Walcott.

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Theo Walcott: Hot Property

Reports suggested a £15m deal had been reached following Southampton chairman Rupert Lowe's visit to Arsenal's training ground on Thursday but Lowe said: 'It is the first I have heard of it.'

'We would have to have agreed a fee for him to do that - and we have not done so.'

'Clive Woodward and I visited Arsenal's training ground today just to look at their facilities which are magnificent,' Lowe added.

'Maybe that has caused some crossed wires? But we have not agreed to sell Theo, we want to keep him.

The Saints chairman had previously said that he could not give any 'copper-bottom' guarantees that Walcott will stay at St Mary's.

Striker Walcott has a pre-contract agreement with Southampton to sign a professional contract on his 17th birthday in March.

But FIFA rules mean Walcott could sign for another club after his birthday with Southampton entitled to compensation - which could be around £500,000 - decided by a tribunal.

The proposed move to Arsenal could land Southampton £10million, with around 35 per cent of the fee paid up front and the rest dependent on appearances and goals for the Gunners.

Walcott's agent Colin Gordon told BBC Sport: 'Our only concern is Theo's best interest and development as a player.'

Lowe said: 'We want him to stay but I cannot give any copper-bottomed answers and say he will be here.

'In the same way that supporters have jobs and sometimes move on, if he feels he is better served by a move then that is a matter for him.'

Chelsea and Tottenham are also reportedly keen on signing the England Under-17 international.