Liverpool would only agree upon a deal with Arsenal involving Raheem Sterling if Theo Walcott and Kieran Gibbs are included.

Sterling would like to leave Liverpool after contract extension talks broke apart.

Sterling is free to leave in 2017, but he's widely expected to be sold before then.

Sources close to the deal have told ESPN FC that Liverpool has approached Arsenal about the possibility of swapping Sterling for left-back Gibbs and forward Walcott.

Walcott's current deal expires in 2016 and wants assurances he will play regular first team soccer.

Gibbs has found himself behind Nacho Monreal.

Manchester City remain the leaders for Sterling, placing a £40 million cash bid.