CHELSEA TRANSFER RUMOURS: Walcott, Modric, Lucas Moura and Moses Involved In Latest Speculation

With the English football landscape currently dominated by the future of Robin van Persie, Chelsea could be set to capitalize on the uncertain contract situation over another Arsenal star. The Sun reports that Theo Walcott has been left disillusioned by Van Persie's seemingly imminent departure and is prepared to turn down an extension to his contract which has just a year left to run.

It is thought that Chelsea have been closely monitoring the situation for some time and now could be ready to test Arsenal's resolve to hold onto the England winger, with an opening bid.

Walcott is reportedly unwilling to sign a contract on the table worth £80,000-a-week. It is hard to envisage Arsenal being willing to allow the 23-year-old's contract to run, with some reports stating that he could be available for around £15 million.

A Chelsea offer for Walcott will be unlikely, however, if reports of the Blues' strengthening interest in Wigan's Victor Moses prove come to fruition.

Like Walcott, Moses has just a year left on his contract. Wigan chairman Dave Whelan revealed that Chelsea have already made a bid that was rejected out of hand. The Mirror now claims that Blues boss Roberto Di Matteo is eager to get a deal done in the next 24 hours and will up the offer to £10 million.

The 21-year-old winger played a crucial role in Wigan's survival last season and though the Latics have not given up hope of securing him to a long-term deal, it is thought the Nigeria international is keen to test himself at a bigger club.

As they seek width on their right side, Chelsea have also long been linked with exciting Brazilian talent Lucas Moura. There is serious competition for the 19-year-old's signature, however. According to TalkSport, Inter are ready to make a decisive move for Lucas. Reporting a story from Italy's Gazzetta dello Sport, it is claimed that Inter director Piero Ausilio is in Brazil to try and thrash out a deal for the Sao Paulo star.

The news follows a curiously similar report from the Daily Mirror on Thursday alleging that Manchester United were sending out a delegation in order to complete a transfer for the Brazil international.

It is possible that Chelsea have been put off by Sao Paulo's reported £30 million asking price. Both Moses and Walcott would be available for a significantly lower fee.

Chelsea could also be left frustrated in their long pursuit of Luka Modric. Tottenham rejected three bids from the Blues last summer and this summer appear determined not to let the Croatian playmaker join a Premier League rival.

The Daily Mirror claims that Real Madrid are now poised to sign the midfielder and have already agreed personal terms. Yet talk of a deal being imminent may be premature, with the tricky business of agreeing a fee still be undertaken. Tottenham are thought to be after at least £35 million for the 26 year old, while Real Madrid's offer of a player-plus-cash deal has fallen through.

Chelsea will need to act soon, though, if Modric is finally to become a Blue.