Arsenal complete Oxlade-Chamberlain deal

Arsenal tonight completed the £15m signing of Southampton winger Alex Oxlade-Chamberlain.

Saints announced on their website that Oxlade-Chamberlain has moved to the Emirates Stadium for a club record fee, subject to Premier League and Football Association approval.

The Gunners are to pay £12m up front and a further £3m in add-ons, it is understood.

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 told the club's official website, www.arsenal.com.

"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 www.saintsfc.co.uk.

"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."

Given his age and lack of experience, it is unlikely he will feature in the Premier League very often this season.

His arrival will encourage Arsenal fans desperate for manager Arsene Wenger to strengthen a squad that has consistently fallen short of mounting a serious challenge for the title.

But it fails to remedy the team's defensive frailties, which have been exacerbated by injuries to Thomas Vermaelen and Kieran Gibbs during Saturday's 2-1 defeat by Benfica.

Gary Cahill, Phil Jagielka and Christopher Samba have been linked with moves to the Emirates Stadium throughout the summer but with little end result.

Oxlade-Chamberlain is also hardly the experienced, big-name player demanded by Arsenal fans seeking reassurance that the club retains ambitions of winning silverware in the short term.

Wenger has been frustrated in his courtship of Valencia winger Juan Mata, making Gervinho and Carl Jenkinson the only new arrivals so far this summer prior to Oxlade-Chamberlain's signing.