Benzema who scored 21 goals and grabbed 11 assists in 38 games for Madrid last season, may see his chances of regular football limited if new manager Rafael Benitez decides to make Cristiano Ronaldo his main striker, or if the Spanish giants sign Zlatan Ibrahimovic from PSG, as reported by Metro.
Arsenal have been criticized for being wasteful upfront, with Danny Welbeck and Olivier Giroud lacking the required clinical killer instincts in front of goal.
Walcott on the other hand, has expressed his desire to lead the Gunners attack and has shown flashes of brilliance; but Wenger may be unwilling to rely on the 26-year-old for the role just yet.
Youngsters Yaya Sanogo and Chuba Akpom still need some maturity as well, thus creating a huge vacuum only a top class finisher can fill.
27-year-old Benzema has proven at the top level that he adequately fits Arsenal’s demands with his impressively consistent performances for Madrid over the years, and the Gunners seem ready to spend massively to land the forward this summer, as they prepare to mount a serious challenge for the Premier League title next season.