Arsenal have rejected a £30m bid from Liverpool for Alex Oxlade-Chamberlain, according to latest reports.

The Standard  report that Liverpool are interested in the 24-year-old but that their opening bid was £10m less than the £40m agreed with Chelsea, and Arsenal have therefore rejected it.

Arsenal’s negotiating position should be fairly strong here. Chelsea were willing to pay £40m, so Liverpool can’t claim that valuation is more than he’s worth. Since the Gunners are giving Oxlade-Chamberlain the opportunity to go to the club of his choosing, it’s only fair that they are fairly compensated.

Also, manager Arsène Wenger has spoken out repeatedly over the summer of how much he rates the midfielder’s prospects in the future and as part of the current Arsenal setup. The Ox may only have a year left on his contract, but publicly Wenger has made no secret that he would be happy to keep him for another 12 months and risk losing him for free next summer.

If Arsenal were under more pressure financially then accepting a slightly lower bid would be expected. But given that this isn’t the case, the Gunners have very little motivation to bow to the demands of Liverpool and the former Southampton man. If the Reds want to sign him, they will have to make an improved offer before the window shuts.