Chelsea may have already spent over £100 million strengthening their Premier League title winning squad, this summer, but manager Antonio Conte is still not satisfied with his board's transfer dealings and is determined to force through more moves before transfer deadline day.
So with the Daily Star reporting that Chelsea have raised their transfer bid for the Oz from £25 million to £35 million and considering that he also has just a year of his current contract left, can Arsenal really afford to dig our heels in on this one?
The Daily Star note in their report that Oxlade-Chamberlain would welcome a move to Stamford Bridge, which comes as no surprise - who wouldn't?
Blues' boss Antonio Conte is an admirer of the England worldwide and is keen to add him to his squad as he prepares for a return to the Champions League.
The north London side have also signed Alexandre Lacazette in a club-record £52m deal from Ligue 1 side Lyon.
Oxlade-Chamberlain would be an excellent addition for the west Londoners as he'd be able to offer competition for Victor Moses in the right wing-back role and provide another option in central midfield - two areas Conte is keen to strengthen.
Used in a variety of positions, The Ox hasn't cemented himself as a first team starter in six years with the Gunners, having made 83 of his 195 appearances from the bench. The 23-year-old is a favourite among fans and fellow team-mates and a departure from the Emirates would be devastating for the club.