The 24-year-old has entered the final 12 months of his contract and has told Arsene Wenger he is determined to seek a fresh challenge.

Wenger has maintained all summer that the England international is not for sale but his sub-par performance in Sunday’s drubbing at Anfield appears to have changed the Arsenal manager’s stance.
The Gunners accepted a £40m offer from Chelsea on Tuesday, but the player is said to have snubbed a move to the Premier League champions, unhappy with the idea of competing with Victor Moses for the role of right wing-back

Oxlade-Chamberlain is said to, instead, have his heart set on a move to Liverpool to play under Jurgen Klopp in the belief he has a genuine chance of cementing a role in his preferred central midfield position.
It now remains to be seen whether or not Liverpool return with an improved bid ,or wait until next summer when they will be able to land the former Southampton star on a free transfer.
http://www.nowayobloggers.com/blog/sports/arsenal-reject-liverpools-opening-30million-bid-for-alex-oxlade-chamberlain