He may not want a permanent deal. He might want to try a 'Jack Wilshere', and do a loan deal till the end of the season to re-establish his credentials at Arsenal and England.
Everton have put in a £20m bid for Theo Walcott. He's been a bench warmer for Arsenal for some time now, but could do a job. He has the speed, and he's scored 100 for the Gunners. Worth a punt, or not?