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ARSENAL have offered Alex Oxlade-Chamberlain to Chelsea in exchange for Nemanja Matic, according to Italian journalist Gianluca Di Marzio.
Oxlade-Chamberlain, 23, has just 12 months remaining on his Arsenal contract and faces an uncertain future at the Emirates.
The Gunners are keen to hand the England international a new deal, but talks have apparently broken down.
Chelsea have been linked with a move for Oxlade-Chamberlain as Antonio Conte looks to bolster his ranks ahead of next season.
The Italian is looking for a winger who can operate in the wing-back position in his 3-4-3 formation, and the former Southampton man fits the bill.
Arsenal seemingly do not want to lose one of their prized assets on a free transfer as they would rather profit from his departure.
It is said Arsene Wenger’s side have offered Oxlade-Chamberlain in a straight swap deal for the Serbia international.
Matic, 28, is at risk of dropping down the pecking order at Stamford Bridge.
And the imminent arrival of Monaco star Tiemoue Bakayoko is set to cast his future at the club even further into doubt.
Reports claim he has been training on his own since returning for pre-season and his team-mates are convinced he is on the brink of leaving.