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For a short six-month spell, there are certainly worse solutions for the Gunners than a player with 35 England caps. Oxlade-Chamberlain is now 32 and while he initially broke through as a winger, he has now firmly established himself as a midfield player.
How Tottenham beat Arsenal to sign James Wilson and their plan for young striker - Spurs swooped late to sign 18-year-old from Hearts on Deadline Day
ESPN keeps you up to date with all the latest Arsenal transfer news as Mikel Arteta considers reinforcing his squad in January.
Newcastle head coach Eddie Howe has played down rumours regarding Sandro Tonali’s potential move to Arsenal. There were reports on transfer deadline day that the Italian midfielder’s agent had offered the player to Arsenal, who were said to be interested in a deal before Newcastle rejected their bid.
Arsenal are thought to be in the final stages of securing a deal to sign St Mirren starlet Evan Mooney, according to reports -with the Gunners haggling over a fee for the teenage striker.
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Bellingham 'pleads' with Real Madrid to sign Arsenal target as cheap £60m price tag is revealed
Jude Bellingham desperately wants Real Madrid to sign Newcastle United star Sandro Tonali in the summer amid links to Arsenal, according to reports.
The 16-year-old became the second-youngest player in Premier League history in August and has made five senior appearances.
Goretzka is out of contract this summer and is set to leave the Bundesliga giants as a free agent. The 30-year-old hasn't been a regular starter under Vincent Kompany, who has often preferred Aleksandar Pavlovic in holding midfield.