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Liverpool will have to pay around £25million if they want to sign Arsenal midfielder Alex Oxlade-Chamberlain.

The Reds are monitoring the England international’s situation with interest as his contract stand-off with the Gunners continues.

Oxlade-Chamberlain, who is out of contract in 2018, has been offered a new deal, but has no intention of accepting marginally enhanced terms of around £80,000 per week.

The 23-year-old has been weighing up his options since talks stalled, but looks increasingly likely to leave the Emirates in search of a new challenge.

Arsenal are reluctant to sell, especially to a domestic rival, but won’t risk losing Oxlade-Chamberlain for nothing next summer. Unless there is a breakthrough in negotiations then they will listen to offers of around £25million.

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Manchester City and Chelsea have also been linked with him but they have yet to make an approach.

Jurgen Klopp is an admirer of Oxlade-Chamberlain, whose pace, power and versatility appeals to the Liverpool boss. However, no approach is imminent with other targets currently viewed as being greater priorities.

One potential stumbling block with Oxlade-Chamberlain is game time. With Liverpool’s wealth of midfield options, it’s unlikely that Klopp would be able to provide any guarantees about a regular starting role in the season leading up to the 2018 World Cup in Russia.

Oxlade-Chamberlain is represented by agent Aidy Ward, who had a fractious relationship with Liverpool during the Raheem Sterling transfer saga two years ago. However, the Reds have dealt with Ward since and there are no issues on that front.