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LIVERPOOL FC have given up on trying to sign Theo Walcott in January – but will attempt to lure the Arsenal attacker to Anfield when he's a free agent next summer.

The Reds were prepared to table a bid of £8million for the 23-year-old England international, who has snubbed the Gunners’ offer of a new five-year contract.

Chelsea, Manchester United and Manchester City have also shown interest in securing Walcott's services.

However, Liverpool now believe that Walcott will stay put in January and see out the remaining months of his deal at the Emirates.

Arsene Wenger has made it clear that Arsenal won't look to cash in on the player next month and that suits Walcott, who will be able to weigh up a number of lucrative options after his contract has expired in June.

Competition for his signature will be tough with Juventus among a number of top European clubs who have been monitoring his situation.

The Reds' hopes of convincing him to move to Anfield as a free agent are buoyed by the fact that Walcott was a boyhood Liverpool fan. He also has the same agent as boss Brendan Rodgers.

However, Liverpool know that being able to offer Champions League football will also be an important factor in Walcott's decision.

The Reds currently stand seven points adrift of the top four but Rodgers is hoping that a double swoop for Tom Ince and Daniel Sturridge in January will provide the extra firepower needed to close that gap in the second half of the season.

As revealed in Tuesday's ECHO, the Ince deal is close to completion and Liverpool will pay Blackpool around £4million for the winger.

Sturridge is increasingly likely to join him at Anfield. The Reds are happy to meet Chelsea's £12million asking price but they have yet to agree terms with the striker.

Both transfers can't be completed until the transfer window reopens on January 1.