"The confirmed signing of Oxlade-Chamberlain at Anfield could be the catalyst that changes Jurgen Klopp's stance and paves the way for the Brazil international's record-breaking move to his dream club".
The 24-year-old initially appeared to be on his way to Chelsea, but rejected the move on Tuesday, citing his desire to play in midfield.
Drinkwater signed a contract extension to 2021 last summer.
Alex Oxlade-Chamberlain apparently played his last game for the Gunners on Sunday against Liverpool as his side received a humiliating 4-0 thumping and if we are to be honest, his personal performances during the game were awful and it had given more reason to believe that he is on his way out.
The loss of the midfielder will be seen as a blow by Arsenal boss Arsene Wenger, who has been adamant in recent weeks that he wants to keep the player at the Emirates Stadium. He is a good player for the squad at this moment, but central midfield, I am still scratching my head on that one. A fantastic talent and with Jurgen Klopp big on speed, he's a player who should factor plenty in the team if he remains healthy.
The ECHO has reported Oxlade-Chamberlain will undergo a medical as he is ready to put pen to paper on a deal. And with the likes of Sadio Mané, Roberto Firmino and Mohamed Salah up front, Klopp doesn't lack for options when putting together his lineups.
The 24-year-old joins Kieran Gibbs in leaving Arsenal this week, with more departures still possible as Manchester City hope to make a late move for Alexis Sanchez, while Inter Milan are interested in Shkodran Mustafi.