Liverpool manager Jurgen Klopp is prepared to outlay £40million for the England international who is about to enter the last 12 months of his contract at the Emirates.
Klopp isn’t being scared off by the Gunners’ valuation of the 23-year-old who ended up playing as a wing-back after Arsene Wenger switched formations.
He is keen for some success in the transfer market especially with a move for Mohamed Salah in doubt over Roma’s £35m valuation.
While an embarrassed Liverpool were forced into issuing a grovelling apology over their attempts to persuade Southampton defender Virgil van Dijk to join the club.
rsenal have held initial discussions with Oxlade-Chamberlain’s representatives who were hoping that they weren’t going to wait this long to get around the table.
The Gunners are ready to offer him a bumper rise to ignore the interest from Anfield and remain with the FA Cup winners in North London.
Arsenal fans are keen for Oxlade-Chamberlain, who scored in England’s 2-2 draw with Scotland, to stay at the club, where he has become a firm favourite since his 2011 move from Southampton.
While Oxlade-Chamberlain has resorted to playing in a makeshift wing-back role with Arsenal, he admitted after the FA Cup final win over Chelsea last month he ideally wants to be deployed in a central midfield position – to emulate Liverpool legend Steve Gerrard.