DEAL: Liverpool and Arsenal agree fee for Alex Oxlade-Chamberlain

Alex Oxlade-Chamberlain looks set to join the reds after Liverpool and Arsenal this afternoon agreed a fee for the 24 year old England international.

'The Ox' turned down a move to Chelsea last night, and was rumoured to have said that he wanted to move to Liverpool.

The reds and Arsenal banged heads today and came to a swift conclusion on a price, lower than Chelsea had agreed with the Gunners of around £35M.

The player will now undergo a medical this evening, rumoured to be at St Georges Park ahead of his involvement on England duty.

Update (11pm UK): The player completed his medical at St Georges Park and agreed terms.  The deal will be announced on the morning of the 31st August.

Oxlade-Chamberlain had refused to sign a new contract at Arsenal, and would have been able to leave the club next June for free but the reds have stepped in to bring the player to Anfield this season.

His sports management company, which is run by Raheem Sterling's agent Aidy Ward, announced a deal had been agreed on twitter, with several journalists confirmed the story earlier this evening.

Oxlade Chamberlain played 198 times for Arsenal since joining them from Southampton in 2011.  This includes 31 appearances in the Champions League.

According to Goal Liverpool are still pursuing their interest in Monaco's Thomas Lemar.

The transfer window closes on Thursday at 11pm UK time.