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Published 14:46 3 Aug 2016 BST
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Ten years on, it's fair to say Theo Walcott is the most frustrating player in Arsenal's modern history. And he's drawn the ire of Arsenal fans once more after saying he is giving up on being a striker and is accepting his lot as a winger.
When he was signed for £12m as a teenager (back when that was a lot of money to pay for a 16-year-old), expectations were sky-high.
He was a pacy winger who had an eye for the spectacular. Sure, he was a little undersized but he was still just a teenager. There were inevitable comparisons drawn between Walcott and Arsenal's then-captain, Thierry Henry. It was expected that Wenger would refine Walcott's raw talent into something more tangible and turn him into the next Henry.
But after a decade of fans slowly losing faith in his ability to lead the line, Walcott has now said that he wants to be a winger again. Coincidentally, the news comes on the 17th anniversary of Henry's signing.
https://twitter.com/Arsenal/status/760751052685795328
Much of what makes Walcott so frustrating is beyond his control (much like a football) - but that's part of what makes him such a frustrating player.
It's not his fault that he was compared to arguably the greatest player in Premier League history. But he did himself no favours by taking on Henry's old number instead of taking his own path.
It's not his fault that he played for the post-Bergkamp, Vieira and Adams Arsenal that lacked the quality of previous teams. But he was signed to be one of the new generation to bring that quality.
It's not his fault he was injured so regularly. But he never seemed to use his time on the sidelines to work on the mental side of his game.
Arsenal have a long list of often-injured 'could have beens' over the last decade. Abou Diaby would have been one of the best midfielders of the Premier League era if he were made out of anything other than glass. Tomas Rosicky became a cult hero at the club despite having no knees.
But with Walcott, it was different for some reason. Maybe it's because of his nationality, or the fact that he broke through so young, but big things were always expected of Walcott.
It's been a decade, though, and he still doesn't really have a proper position.
https://twitter.com/pheagane_/status/757459030935801856
No one player encapsulates the false hope of being an Arsenal fan over the last ten years quite like Theo Walcott.
He is Arsene Wenger's second act. A physically gifted but tactically naive player who is prone to both mental and physical breakdowns at the most inopportune times.
Of the field, he is a perfectly likeable guy. He doesn't get into trouble and has never really shown any interest in leaving Arsenal. He has embraced the Arsenal/Tottenham rivalry better than any player of the last few years.
Even as he was carted off with a ruptured knee during an FA Cup third round game against Spurs two years ago, he couldn't resist taking the piss out of the away fans giving him abuse.
This is the main frustration of Walcott. As an Arsenal fan, I want him to succeed so badly. This time last year, we were all glowing about how his FA Cup final performance against Aston Villa would be his turning point.
Just like Arsenal themselves, there has always been a feeling that once it clicks, Walcott will be unstoppable.
Except that it never just clicks for any length of time. For every performance like his stunning hat-trick against Newcastle United in 2012, there are countless others where he is - at best - completely ineffective.
So why would it suddenly just click now when nothing has really changed?
https://twitter.com/FaxingBudapest/status/757640537071558656
And even as I write this, there's still that voice at the back of my mind asking 'yeah, but what if this year is actually the year he figures it out?'. For all the talk about him being done, Walcott is still only 27-years-old.
But Walcott is not a winger. He is quick and hard-working but he is a terrible crosser of the ball and has no real back-up plan if a team sits off him.
Nor is he a striker. He rivals Olivier Giroud for his wastefulness without having the Frenchman's superior positioning.
But now that he has accepted his fate as a winger, maybe he'll be able to make it work. Instead of focussing all his energy on being the main man, he can work on his game and just improve in a supporting role.
Maybe this will be his year. Maybe, but probably not.

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