Liverpool have reportedly informed Arsenal that they are not prepared to let Alex Oxlade-Chamberlain return to the Emirates Stadium on the cheap.
The 28-year-old has recently been linked with a surprise return to Arsenal, where he spent six seasons before joining the Reds in a £35m transfer in August 2017.
Oxlade-Chamberlain has struggled for starts at Anfield and is said to be eager to reunite with former teammate Mikel Arteta, who is now in charge of the Gunners.
The Englishman still has 18 months to run on his contract, however, and The Sun suggests that Liverpool are eager to recoup a large chunk of the fee that they paid Arsenal.
The same report indicates that Arsenal may consider taking Oxlade-Chamberlain on an initial loan deal in January with a view to making the move permanent in the summer.