Oxlade-Chamberlain will become Liverpool's second most expensive signing after Guinea global Naby Keita put pen to paper for a 48 million Euros deal.
And finally, Gary Neville - the former Manchester United right-back - reacted with a cheeky dig...
Liverpool are expected to have a very busy deadline day and fans would be hoping to see key signings at Anfield. "This is a terrific blow to Arsenal, but I'm not sure it's good for Alex himself".
He's a player who, to be fair, could play in Jurgen Klopp's style.
'I think he definitely strengthens the group and the team.
Oxlade-Chamberlain could be joined by several new faces at Liverpool, with long-time target Virgil van Dijk still a possibility, while a club-record deal of more than £70m for Monaco midfielder Thomas Lemar could be one of today's big moves.
Liverpool move for Virgil van Dijk not hampered by tricky Southampton relations
Whether these Liverpool fans are onto something or not, their desperation to sign van Dijk is as amusing as it is alarming. The Cameroonian star has been the most consistent center back for the Reds since moving to Anfield last summer.
Oxlade-Chamberlain leaves the Emirates Stadium having scored 20 goals in 198 appearances for the Gunners.
Independent.ie were the first to report this summer that a bid in excess of £70m may tempt Southampton to sell their want away star, but neither Liverpool or Chelsea have made an offer of that magnitude to this point.
England worldwide left back Kieran Gibbs yesterday joined West Brom on a four-year contract.
The 24-year-old Aurier, who played 57 league games for PSG after joining from Toulouse initially on loan in 2014, is Tottenham's second major defensive recruit after center back Davinson Sanchez from Ajax. Mahrez, English soccer's player of the year in the 2015-16 season, has played in Leicester's first three games of the Premier League.
Oxlade-Chamberlain's exit looks inevitable; it is now just a matter of where he goes.
Liverpool opened talks with Arsenal on Wednesday afternoon, quickly agreeing a deal reportedly worth £35 million, with the midfielder earning £120,000-a-week.