Theo Walcott’s profile has soared and his earnings are set to follow a similar spectacular trajectory. Arsenal are due to start negotiating a new contract for England’s teenage star and, to keep him out of the clutches of covetous rivals, the club may at least have to triple his salary of about £20,000 a week.

Walcott has just under two years to run on the deal and, although talks were pushed back this summer, it is highly unlikely that Arsenal will risk him running down any more time after the stunning hat-trick that propelled England to a 4-1 victory over Croatia in Wednesday evening’s World Cup qualifying match in Zagreb.

The player has not been pressing for a new contract but, given that he earns half the salary of his closest England colleague and a quarter of many of them, Arsenal are expected to address that imbalance in negotiations over the next few months.

Arsène Wenger, the Arsenal manager, said yesterday that he expected to be able to fend off raids for players such as Walcott and Cesc Fàbregas, the Spain midfield player. “Maybe we don’t buy a player for £50 million but we are always in a position to say, ‘No, we don’t sell,’ ” Wenger said in response to questions about whether Manchester City may use their Arab oil money to go after Walcott.

Given the Frenchman’s determination to build a team around young talent that he has moulded, Wenger will expect the club to put together a lucrative long-term deal for the 19-year-old, who has cost just over £9 million in fees since his move to Arsenal from Southampton in January 2006.

Wenger is confident that Walcott will be able to handle the pressure and scrutiny that is sure to follow his performance in Zagreb. “Don’t set any limitations on any human being because once you have talent, the rest is down to how much you want it and to how intelligent you are,” he said. “I believe that he is hungry in a quiet way, he has a quiet determination and he is intelligent. You can be very optimistic.

“The rest is down to injury. We have seen that with Robbie Fowler and Michael Owen. They could not completely respond to the expectations because you have to be completely healthy as well.”

Walcott’s hat-trick has put England in charge of their qualification group and nudged David Beckham closer to the end of his international career. After his 105th appearance, the former national team captain is just one behind Sir Bobby Charlton and three behind Bobby Moore. If he is to draw level, he seems happy to do so from the bench.

“I don’t care whether I play or not,” the 33-year-old said. “As long as England win, that is the most important thing for me. If Theo plays like that and scores and creates chances like he did, he frightens defenders. He is a level-headed lad and won’t get carried away.”

Indeed, Walcott may not even start when Arsenal play Blackburn Rovers at Ewood Park tomorrow, with Wenger anxious to avoid burn-out in the teenager. His England teammates are also urging caution.

“I’ve seen many players get made out to be the saviour of English football,” Wayne Rooney, the Manchester United forward, said - and he speaks from experience.