The England international is on Jurgen Klopp‘s radar as he plots to add to his squad for a busy 2017/18 campaign, with the Reds fighting on four fronts.
Having previously described speculation over his interest in Oxlade-Chamberlain as “nonsense,” Klopp’s summer pursuit seems genuine.
The 23-year-old has a year left on his contract at the Emirates Stadium, but the Gunners still value him at £25 million.
He is said to favour a switch to Liverpool, with the lure of working under Klopp proving attractive to a player who would certainly suit his system.
It remains to be seen whether they return for the midfielder, but Arsenal would surely prefer to negotiate a move this summer rather than see him leave on a free transfer in 2018.
Oxlade-Chamberlain is said to be seeking assurances of regular game time rather than an increase in his salary, with Arsenal offering a significant improvement on his current terms.
It is difficult to see the midfielder slotting into a key role under Klopp at Liverpool, though, but with European football next season, he would certainly get plenty of opportunities.
“I get to come from deeper, and that plays into my hands more…I prefer the ball to feet.
“At the end of the day, it’s given me minutes and I’ve loved starting games, so I’m not one to complain.
“But, the centre-mid role: I’ve always wanted to be Steven Gerrard, so I’ve still got a hope of that!”
There is a case to argue that Oxlade-Chamberlain could take up a similar role to Lallana in Klopp’s midfield, overlapping into attack and leading the press.