Liverpool have reportedly kept a close eye on Alex Oxlade-Chamberlain's contract situation at Arsenal.
The England international's current deal at the Emirates Stadium is due to expire in 2018 and it is believed that the Gunners are eager to start negotiations over fresh terms.
However, ESPN claims that should the two parties fail to reach an agreement, Liverpool are ready to swoop.
The 22-year-old, who was recently linked with a move to Manchester City, has made just nine Premier League starts this season due to injuries.
