Truth is, I would sell Walcott to any old team willing to pay a good price. It is possible that we can get Reus in the summer, I see him preferring to work with Wenger rather than Mourinho (seems like a level headed guy in footballing terms). He was very close to joining us in the summer before he got injured in a World Cup warmup game, Sanchez was in fact our backup option. Him + Schneiderlin in the summer would be perfect business.
I think Real are our biggest competition for him, if they can convince him he can fit into their team.