Arsenal transfer incomings ‘unlikely’ after Ox sale - BBC Sport reporter David Ornstein

That is according to BBC Sport reporter David Ornstein, who is a regular source of Arsenal transfer gossip.

He tweeted: “Oxlade-Chamberlain to sign 6yr deal with #LFC & becomes Arsenal's all-time record departure fee. 

“Unlikely that #AFC will sign a replacement.”

Arsenal finally agreed to let Oxlade-Chamberlain leave despite months of claims from manager Arsene Wenger that he would not be sold.

The 24-year-old rejected a move to Chelsea on Tuesday after a fee had been agreed in a bid to ensure a transfer to Liverpool.

Personal terms will now be discussed and Oxlade-Chamberlain will undergo a medical tonight at St George's Park - where he is currently training with England ahead of their World Cup qualification double-header.

Oxlade-Chamberlain’s exit will be a significant blow to Wenger, who hoped he could build the Arsenal team around him.

He said last week: “In all the conversations that I have had, I say that I want him to stay and be one of the big players of the future of this 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 be one of the carriers 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.”

But faced with losing Oxlade-Chamberlain for free next summer and on the back of a poor performance on Sunday against Liverpool, the Gunners have opted to cash in.