Liverpool have agreed a £40m deal to sign Arsenal and England midfielder Alex Oxlade-Chamberlain.
The 24-year-old, who rejected a move to Chelsea on Tuesday after a fee had been agreed, will join Liverpool on a five-year contract worth £120,000 a week, as reported by the BBC.
He has started each of Arsenal's four games so far this season.
Liverpool could yet make further signings before tonight's transfer deadline, as they continue to hold talks with Monaco in an attempt to secure a £75m deal for French forward Thomas Lemar.
The signing of Oxlade-Chamberlain for £40m from Arsenal could take their spending inside a week to around £170m should Monaco sanction the sale of Thomas Lemar on transfer deadline day, as per the Guardian.
They have not given up hope either of signing Virgil van Dijk, though they acknowledged that it would take a significant shift in Southampton's stance for the £70m-rated centre-back to move to Anfield.
Oxlade-Chamberlain, 24, was having a Liverpool medical last night at St George's Park, where he has been with the England squad preparing for tomorrow's World Cup qualifier in Malta, according to the Express.
England manager Gareth Southgate was understood to be keen for the move to be completed before the squad flies out to Malta today, and could leave the midfielder at home if there is any delay in announcing the deal.
Oxlade-Chamberlain's departure from Arsenal had looked certain after he refused to extend a contract that was scheduled to expire next summer, but it had appeared as though Stamford Bridge was his likely destination.
The Premier League champions had agreed a £40m fee with Arsenal on Tuesday, but the player insisted he was not interested, expressing concerns that Blues manager Antonio Conte wanted him to play at wing-back.
The England international has made clear he would rather play in central midfield, and believes that he will get that chance under Jurgen Klopp.
Oxlade-Chamberlain has made 198 appearances for Arsenal since joining them from Southampton in August 2011, scoring 20 goals.
The fee is the highest Liverpool have yet paid for a player - although it will be surpassed by the £48m the Reds have agreed to pay for RB Leipzig's Naby Keita next summer.