Their source? The newly-released Gunners calendar which, for the first time in five years, does not feature the England winger.
The Sun, Daily Mail and Daily Mirror all report that "contract rebel" Walcott is missing despite having been on the front cover of the calendar for the last four years.
His absence comes despite Arsene Wenger having said that he "wants and expects" the player to sign a new deal - though no doubt the decision to omit him was made by staff still wary after the debacle which saw Robin van Persie featured on the cover of the 'Young Gunners' fan club pack two months after he was sold to Manchester United.
It's not just Walcott who has been left out, as The Sun reports: "French full-back Bacary Sagna also does not feature after he slammed Wenger’s transfer policy earlier this season."
Incidentally, The Sun and the Daily Mail both make themselves look silly by claiming to have the story exclusively - pretty ridiculous considering that you can already order the new calendar on Amazon.
Frank Lampard has sparked a bidding war among MLS clubs after it emerged he wants to end his career in America, the Daily Express reports.
Chelsea have already made it clear that Lampard will not be offered a new deal, and Lamps was apparently persuaded to try and crack America after speaking to former England colleague David Beckham. Both the LA Galaxy and the New York Red Bulls are said to be keen - though of course that may just be the Express printing the names of the only two MLS teams they and their readers have ever heard of.
Manchester United are "ready to Zouma in" on St Etienne centre-half Kurt Zouma, the Daily Mirror reports, with the 18-year-old to be the subject of a £9 million bid in January. Manchester City are also reported to be keen.
Jermain Defoe has been tipped to leave Tottenham for some time, but no longer: the Sun reports quotes from Spurs boss Andre Villas-Boas saying that Defoe is not for sale, and that he's "just as good as (Radamel) Falcao" - the £50m-rated Atletico Madrid striker coveted by Chelsea, and part of AVB's all-conquering Porto side of 2010-11.
The Daily Mail reports that Wenger has confirmed Arsenal's interest in Crystal Palace winger Wilfried Zaha (despite Palace failing to score a goal last night for the first time this season), while across London Fulham and West Ham are set to clash over the £5m signing of Benfica attacking midfielder Nolito in January, the Mirror claims.
And finally, Arsenal fans are warned in The Sun to give up hope of landing Dutch striker Klaas-Jan Huntelaar for £6m by none other than Schalke's general manager. Horst Heldt is quoted as saying that if somebody comes up with the cash for the player - who is nearing the end of his contract - then "we will deal with it. But from Arsenal circles we hear there is no money anyway".