Report: Liverpool pips Chelsea to £40M deal for Oxlade-Chamberlain

Liverpool has beaten Chelsea in the race for Arsenal midfielder Alex Oxlade-Chamberlain by reaching a £40-million agreement with the Gunners, reports the BBC's David Ornstein.

Oxlade-Chamberlain, who's currently on international duty with England, is expected to undergo a medical Wednesday evening at St. George's Park before flying out to Malta for Friday's World Cup qualifier.

Various reports indicate he will sign a six-year contract with the Reds.

He would have been Liverpool's club-record signing had it not already committed to a reported £48 million for RB Leipzig destroyer Naby Keita.

The Liverpool Echo's James Pearce adds that the signing of Oxlade-Chamberlain doesn't preclude the arrival of AS Monaco winger Thomas Lemar. Liverpool is reportedly prepared to pay £75 million for the Frenchman after seeing two bids rejected by Monaco.

Jurgen Klopp's lot snuck in with a late bid for Oxlade-Chamberlain days after reports of a £35-million agreement between Chelsea and Arsenal. A childhood Liverpool supporter, Ox apparently favoured a move to Anfield, where he has a better chance of playing in a more natural midfield position.

Like Mesut Ozil and Alexis Sanchez, Oxlade-Chamberlain's contract with the north London side was set to expire next summer. Arsenal allegedly offered a lucrative £180,000-a-week deal to remain at the Emirates, but the player turned it down to seek a new challenge.

Despite earning a solid number of minutes under manager Arsene Wenger, the 24-year-old is believed to have grown tired of playing as a wingback in the Frenchman's new 3-4-3 formation.

It's unlikely Arsenal will sign a replacement for Oxlade-Chamberlain in the final two days of the transfer window, according to Ornstein.

Ox made nearly 200 appearances for Arsenal after arriving from Southampton in 2011. He scored just nine Premier League goals in that time.