Mauricio Pellegrino hints at Theo Walcott transfer as Southampton boss admits he has "six targets"

Southampton boss Mauricio Pellegrino has hailed Theo Walcott ‘excellent’ as the Arsenal outcast closes in on a return to his first club.

Saints are trying to sign their former teenage starlet Walcott on loan to help dig themselves out of the relegation mire.

England star Walcott, who made his debut for Saints as a 16-year-old, is even willing to consider a pay-cut to seal the deal.

Pellegrino said: "There are many players we have an interest in. Obviously Walcott is an excellent player.

"We are looking for players that can improve the level of the squad and help us to be stronger.

"The market is huge and we have four, five, six targets. We have confidence someone else can come and will be good with us.”