Arsenal transfer rumour: Gunners ready to allow Alex Oxlade-Chamberlain leave this summer

Arsenal are open to the idea of sanctioning Alex Oxlade-Chamberlain's transfer to Liverpool and he is likely to be joined by eight other players heading for the Emirates exit in the summer transfer window.

According to the Independent, the Gunners are under pressure to cut their wage bill in order to meet the Premier League's wage control rules, which will be effective from this summer. The rule states that the top flight clubs in England can only increase their salary budget by £7m ($8.9m) per season or £19m ($24.3m) more than their 2012/13 season's wage bill.

The England international has one year left on his contract and the north London club are yet to be handed a new deal. Oxlade-Chamberlain is joined by star duo of Alexis Sanchez and Mesut Ozil, whose contract will run down after the end of the next season.

Arsene Wenger has publicly expressed his desire to retain his two key players. The Telegraph earlier reported that Arsenal were ready to offer both Sanchez and Ozil a new deal that would see them earn £280,000-a-week.

However, with the Premier League's new wage control rule, the Gunners are unlikely to offer such high wages to both Sanchez and Ozil. This will be a blow for Wenger and his side in their ongoing pursuit of retaining the Chilean international and the World Cup winner with Germany.

The Premier League rules allow you to overspend, only if the clubs will be able to show the funds have come from external sources like ticketing, increased commercial or matchday revenue, or player sales.

To meet the requirement, Arsenal are ready to offload a few of their first team players. Nine of their first team players could be allowed to leave the club this summer. Oxlade-Chamberlain is leading the list and he could be joined by French striker Olivier Giroud, who is reportedly wanted by West Ham United, Marseille and Napoli.

The remaining seven players include Jack Wilshere, Calum Chambers, Wojciech Szczesny, Chuba Akpom, Kieran Gibbs, Lucas Perez and Carl Jenkinson. Despite the concern, Arsenal are determined to retain Hector Bellerin, who is attracting interest from La Liga giants Barcelona.