Arsenal face losing Alex Oxlade-Chamberlain for nothing as contract negotiations rumble on.

The Gunners are trying to tie down the Englishman, who has just 12 months left on his current deal at the Emirates.

Failure to agree a new deal means that Oxlade-Chamberlain will be free to talk to European clubs in January - and Arsenal would be powerless to stop him leaving next summer.

Liverpool remain interested in securing the 23-year-old and the Liverpool Echo report that he has turned Arsenal's latest offer.

Arsenal have already turned down one approach for the £25million-rated midfielder.

Oxlade-Chamberlain is struggling to agree a new deal with Arsenal (
Image:
Reuters)
Wenger is at risk of losing one of his key men for free (
Image:
REUTERS)

And now Chelsea have joined the list of clubs keeping tabs on Oxlade-Chamberlain's situation as progress on an agreement appears slow.

It's not the only contract saga for Arsene Wenger as he continues to struggle to reach agreements with star duo Alexis Sanchez and Mesut Ozil.

Sanchez is wanted by Manchester City, while Bayern Munich have admitted that they are interested if they can avoid paying "crazy sums".

Sanchez is looking likely to leave Arsenal this summer (
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REUTERS)
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Wenger is also at risk of losing Ozil for free (
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Action Images via Reuters)

There are fears, meanwhile, that Ozil could run down the final year of his deal and leave on a big-money free transfer next summer.

Arsenal will be anxious that does not also happen with Oxlade-Chamberlain, which increases the likelihood of him leaving in the present transfer window.

Relations between the two clubs over transfers have been frosty since the Londoners' botched attempt to sign Reds hero Luis Suarez in 2013.

Tensions between Liverpool and Arsenal remain at a high (
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Action Images via Reuters / Carl Recine)
Oxlade-Chamberlain's future remains uncertain (
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Getty)

It was even reported that Liverpool inserted a clause in Roberto Firmino’s contract which prevents him joining the Gunners — even if they match his buy-out clause.

Oxlade-Chamberlain has scored 20 goals in 194 games for Arsenal since joining from Southampton for an initial fee of £12million in 2011.

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