Arsenal have £12M deal for Southampton superkid Oxlade-Chamberlain
The winger - who will be 18 on Monday week - has emerged as one of the most exciting prospects in the country.
The initial down payment will be around £7 million and the fee will rise according to appearances.
And Oxlade-Chamberlain is unlikely to be leased back to Southampton on loan for the season.
Wenger wants to involve him as soon as possible in the first team environment at The Emirates and plans to use him in the Carling Cup.
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