Liverpool have been linked with both wingers, although Brendan Rodgers is likely to only make a move for one of them.
England international Johnson was left out of City’s squad to face Southampton at the City of Manchester Stadium earlier today, whilst Walcott has just one year left to run on his current deal at the Emirates.
Mancini said, “Adam is a young guy, he is a good player and he wants to play,” said Mancini.
“In these 10 days, if we find a good solution for him and he can go to play, maybe it is better.
“I don’t know about a loan. We have two or three situations. We are talking with him about this.
“But if he stays here I don’t have a problem.”
Meanwhile Wenger told press, “We are still trying to extend his deal. When a player doesn’t want to stay you either force him or you let him go.”
The summer transfer window closes in 11 days, with the Reds also linked to Real Madrid’s Nuri Sahin and Fulham’s Clint Dempsey.