The north London club had come close to a £10 million deal in January for the highly rated 17-year-old, whilst there continues to be interest from Liverpool, Manchester United and Tottenham for the youngster’s services.
Despite Southampton’s recent promotion to the Championship, Oxlade-Chamberlain looks set to leave the club this summer, and his father has expressed his desire to see his son follow in the footsteps of former Saints academy graduate Theo Walcott and sign for the Gunners.
Speaking to reporters, Mark Chamberlain said: “Considering where he was at the beginning of the season and end of last season, to have the clubs we’ve been hearing about looking at him, he’s made great strides.
“But watching him and watching his performances I think it’s well deserved. He’s only going to get better.
“A lot of people speak to me and say ‘Maybe it’s too soon, look at Theo.’ But for me I think Theo’s doing fantastic, he’s developing as a player, he’s still developing and he’s only young.
“To develop at a place like Arsenal can’t be a bad thing. In my eyes, I’d like him to go there as soon as possible, and continue his development.”