By Wayne Veysey

29th May, 2016 | 12:26pm

Liverpool face competition for Arsenal attacker after Wenger made clear he is ready to cut losses - report

By Coral Barry

Leicester are ready to do battle with Liverpool for the signature of Alex Oxlade-Chamberlain, according to a report.

The Arsenal attacker has long been tipped as the next big thing in England, but injury has so far wrecked his career with the most recent setback in February ruling him out of the remainder of the Gunners’ campaign as well as the chance of appearing for England in the European Championships.

Oxlade-Chamberlain was limited to just six starts in the Premier league in the recently-completed domestic season and the Daily Express claim Arsenal are ready to cut their losses with the 22-year-old.

Liverpool have also been credited with an interest in the attacker with Jurgen Klopp hoping he can manage Oxlade-Chamberlain’s problems in the same way he helped injury prone Daniel Sturridge keep fit for the second half of the season.

The Foxes are eager to add to their squad with the Champions League looming on the horizon after Leicester were crowned Premier League champions for the first time in their history.

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Arsene Wenger is believed to be finally ready to give up on Oxlade-Chamberlain, despite his obvious potential, and cash in on the youngster in a bid to make room for new recruits.

The Arsenal boss snapped up Oxlade-Chamberlain from Southampton in 2011 amid some serious competition for his signature, but the winger has struggled with injuries and failed to put together a regular run in the team.

Arsenal are expected to make a serious push for the title next season and have already added Granit Xhaka to their ranks for a fee in the region of £34million.

Oxlade-Chamberlain has two years left on his contract and is understood to not want a move away from the Emirates, but he could be forced towards the exit if the London club receive a suitable offer.

In other Liverpool news, the Reds have been told they must pay £45million if they want this defender.