Arsenal have reportedly decided that they are willing to part ways with midfielder Alex Oxlade-Chamberlain.

Both Liverpool and Chelsea have been linked with the 23-year-old, who has just one year remaining on his existing contract.

Gunners boss Arsene Wenger has publicly stated on more than one occasion that he is keen to keep the versatile midfielder at the Emirates Stadium but according to The Independent, their stance has changed.

It has been claimed that Arsenal are under pressure to meet new Premier League regulations regarding their wage bill, which cannot increase by more than £7m from last season.

With the club offering lucrative new contracts to both Alexis Sanchez and Mesut Ozil, it effectively leaves the North London outfit unable to provide a significant increase to Oxlade-Chamberlain’s terms.

As it stands, the England international can leave for free next summer, resulting in Arsenal now looking to receive in excess of £20m for his signature