Arsenal have reportedly been looking into the option of selling winger Alex Oxlade-Chamberlain to Chelsea in exchange for Nemanja Matic.

The England international is in the final year of his current deal at the Emirates Stadium, but discussions over an extension have so far proved unsuccessful.

Matic, meanwhile, has been linked with a move away from Stamford Bridge during the current transfer window, with Manchester United thought to be interested in his services.

The website of Italian journalist Gianluca Di Marzio has suggested that Arsene Wenger's side have proposed a swap deal which would see Oxlade-Chamberlain head to Stamford Bridge in return for the Serbian midfielder.

Oxlade-Chamberlain, who has travelled with the squad for their pre-season tour of Australia, joined the Gunners in 2011 and has since scored 20 goals in 194 appearances for the club.