Arsenal confirmed the signing on their official website but did not release details of the fee, while the 17-year-old's contract was simply said to be a "long-term" one. Southampton did not not confirm the fee either, although they revealed it was a club-record sale. It is understood Arsenal will pay £12million up front plus a potential further £3million in add-ons. Arsene Wenger hailed Oxlade-Chamberlain, who turns 18 next Monday, as a player of rich potential. "We are delighted that Alex has decided to join us," Wenger said. "He is an exciting young player who will provide us with creativity and offensive quality. "Alex is a versatile player who can play in a number of positions. "He can play as an attacking centre midfielder, or wide left and right. "Alex is a perceptive passer of the ball and has a great understanding of the game and looks to be a very good team player." Oxlade-Chamberlain has yet to compete at a higher level than League One but his signing will still be viewed as a coup for Arsenal, despite the size of the transfer fee. Manchester United and Liverpool also expressed interest in the Southampton academy product, but the Gunners edged their rivals on this occasion. "Alex agreed personal terms and passed a medical this afternoon," read a statement on Southampton's official website. "It is one of the biggest deals in Championship history, which sees Saints' previous transfer records blown out of the water. "The deal for the midfielder, who had made it clear he saw his future away from Southampton, was done with Saints in the driving seat for the duration of the protracted negotiations and the transfer was completed on our terms." Oxlade-Chamberlain, who was contracted at Southampton until 2013, is regarded as one of England's most promising young footballers. He played a key role in helping Southampton secure promotion to the Championship last season, firing nine goals in 34 appearances. His style has invited comparisons with Theo Walcott, who also left Saints for Arsenal, though Oxlade-Chamberlain is considered to better defensively. "Arsenal have a great manager in Arsene Wenger, top-quality players and an attractive style of play," said Oxlade-Chamberlain. "These were all important factors in me choosing to sign for Arsenal."
