Sources claimed Southampton had made an attempt to re-sign the winger, who was a product of the clubs prestigious youth academy, before Arsenal signed him as a teenager in 2011.
Ronald Koeman stated in his press conference earlier yesterday that it would be quiet day for the saints but would be interested in deals if the right players became available. Arsenal declined the move though as a lack of depth with constant injury concerns worried Arsene Wenger.
Chamberlain has struggled to break into the Gunners’ first team on a permanent basis over his 5 year spell at the club and a loan move to a team like Southampton would have been beneficial in the long run as the youngster looks to cement a place at Euro 2016.
Chamberlain has struggled to find his feet in the Arsenal side this season, fellow winger Joel Campbell has found himself ahead of the 22-year-old on a number of occasions and the “Ox” has struggled to put up much of a fight due to re-occurring injury problems.
The switch would have been good news for Southampton as the south-coast club continue their push for a Europa League return having already signed Charlie Austin this January. Oxlade-Chamberlain would also receive a good end of the deal as he can expect regular football along with a warm welcome back to his old side.