Sky Sports claim Chelsea have joined Premier League rivals Liverpool and Manchester City in the race for Oxlade-Chamberlain's services. Sanchez was initially signed by Barcelona under Guardiola and the Spaniard would like to reconnect with the Chilean as the Citizens look to challenge for the title next season.
As with every bit of transfer information we receive these days, this could just be his agent looking to sweeten the deal for his new contract, but there does appear to be genuine interest in his services if Arsenal won't cough up the cash.
City have prised away Samir Nasri, Emmanuel Adebayor, Gael Clichy, Kolo Toure and Bacary Sagna from the Gunners in recent years and are confident of pulling off another coup despite protestations from Arsenal. His injuries have also not helped but Oxlade-Chamberlain has made a number of substitute appearances or does not last the 90 minutes often when he does start games.
But the player illustrated his versatility by adapting to a right wing-back role under Wenger when Arsenal switched to a 3-4-3 formation, with the player excelling down the flank. Mixed reactions to the club's interest in Oxlade-Chamberlain are understandable given his inconsistency over the past couple of seasons, yet there is good reason to be excited about what Klopp could help him become were the pair to work together. However, the French manager bought him as a teenager with an eye on developing him into a world class player and he may not want to see so many years of hard work go down the drain for a few million pounds.
The 23-year-old is about to enter the final 12 months of his contract with the Gunners.