BBC Sport is claiming that the 24-year-old midfielder has snubbed the chance to move to Stamford Bridge, and that the player would much prefer a transfer to Liverpool before Thursday’s deadline.
The same report states that he turned down a move to the Premier League champions because the Blues would likely play him at wing-back.
The story also says that Oxlade-Chamberlain’s primary reason for wanting to leave Arsenal is that he wants to play in central midfield.
It is claimed in the same article that Oxlade-Chamberlain wants to sign for Liverpool before the transfer window closes at 23:00 BST on Thursday.
Fresh reports on Wednesday evening revealed that Liverpool have agreed a £40m fee with Arsenal for the midfielder, and the Reds are prepared to offer the England star a contract worth £120,000 a week.
Oxlade-Chamberlain has started all three of Arsenal’s Premier League games this season but has been deployed in a wing-back role for the Gunners.
Like Mesut Ozil and Alexis Sanchez, Oxlade-Chamberlain has less than a year left on his current contract, meaning that he could leave the club on a free transfer next summer.
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