Alex Oxlade-Chamberlain is waiting on Liverpool to return with an improved offer after Arsenal rejected their opening bid in the region of £30million for the England international.

Standard Sport understands Liverpool are seeking to tie up a deal at a lower price than the £40m fee agreed with Chelsea after it emerged the player has stated his preference for a move to Anfield.

The Blues had been confident of completing a deal before tomorrow’s 11pm transfer deadline but that looks more remote than ever given differing views over where he would fit into the champions’ starting line-up.

Chelsea manager Antonio Conte is believed to have offered him a role as right wing-back ahead of Victor Moses but Oxlade-Chamberlain has repeatedly stated his desire to play as a central midfielder and believes there is a greater chance of doing so at Liverpool.

Arsenal are open to keeping Oxlade-Chamberlain if Liverpool are unwilling to meet their valuation and it now appears a possibility he could stay at Emirates Stadium and see out the final year of his contract should an agreement not be reached.

Oxlade-Chamberlain is also believed to view Liverpool as a more stable option given the persistent rumours over Conte’s long-term future and the uncertainty over their other transfer activity with a little over 24 hours left in the window.

It remains to be seen whether Liverpool will pursue a deal or wait until next summer to try and land the 24-year-old on a free transfer. Chelsea are thought to still be in dialogue with the player and so all outcomes are possible at this stage, although Oxlade-Chamberlain’s first choice has now become clear.

While that situation is likely to go down to the wire, Arsenal have completed the sale of another player with one year remaining on his contract.

Kieran Gibbs has joined West Brom in a £7m deal after the Baggies took advantage of a breakdown in talks with Watford.