Arsenal have offered Alex Oxlade-Chamberlain a new improved four-year deal worth £125,000-a-week to fend off interest from Chelsea  according to a report.

Chelsea have strongly been linked with the England international with a bid of £40m being made.

Oxlade-Chamberlain is in the final year of his contract and will be free to leave Arsenal in the 2018 summer if he does not sign a new deal.

However in attempt to keep the England international, the Gunners have offered him a new improved four-year deal worth £125,000-a-week to extend his stay at the Emirates stadium according to the Daily star.

The report adds that Oxlade-Chamberlain was tempted by the prospect of moving to Stamford Bridge after Arsenal’s initial offer was less than £100,000 a week.

With the new offer being made, the Gunners are hopeful it will be enough to convince the 24-year-old to sign up.

Arsenal risk losing Alexis Sanchez and Mesut Ozil who are  in the final year of their contracts and can leave for free in the 2018 summer if they do not sign new deals.

  Alex Oxlade-Chamberlain, Alexis Sanchez, Arsenal, Chelsea, Mesut Ozil, Stamford Bridge