Liverpool transfer news: Arsenal demand £40m plus £1 for Alex Oxlade-Chamberlain

Express Sport understands Oxlade-Chamberlain wants to leave Arsenal after rejecting a new £180,000-a-week deal. 

The Gunners are yet to make a decision on whether to let him move on this summer or keep him and lose him on a free transfer at the end of the season.

Chelsea and Liverpool are apparently keen on securing his signature as they both look to bolster their ranks before the transfer window closes on August 31. 

But the Reds are apparently leading the race to sign the England international, who will reportedly only accept a £200,000-a-week deal. 

However, The Sun claim Arsenal are in the driving seat and are looking to assert themselves over their Premier League rivals. 

The Anfield club famously rejected a bid of £40m plus £1 from Arsenal for Luis Suarez in 2013. 

And it is said the Gunners are now demanding that Liverpool pay the same if they want to sign Oxlade-Chamberlain. 

The winger apparently told Arsene Wenger he was happy to sign a new long-term deal last season. 

But The Sun say Oxlade-Chamberlain's representatives have played a huge part in changing his mind. 

Alexis Sanchez and Mesut Ozil have also failed to sign new deals and look set for moves elsewhere.

However, Wenger remains confident Oxlade-Chamberlain will extend his seven-year stay at the club. 

“He is one of the players this team has to be built around in the future.

“Personally I want him to commit to the club and to be one of the carrier of the values of our team.

“I want to keep my best players. I only have one target: to keep everybody on board. 

“I think we invested a lot of time, confidence and money on players like Alex Oxlade-Chamberlain, who we bought at a young age. 

“For me, they have a responsibility for the future of this club because Alex Oxlade-Chamberlain will be one of the big English players in the coming years. 

“I personally am highly determined to keep him here at the club and I hope he will commit.”