The Premier League side, who currently sit ninth in the standings following last weekend’s 3-2 defeat to the hands of Southampton at St Mary’s Stadium, are interested in the pair after both stars have fallen down the pecking order with the Gunners as of late.
Oxlade-Chamberlain, 22, who has 24 international caps for England, has scored just two goals and provided two assists in 33 appearances in all competitions for Arsene Wenger’s side so far this season.
Meanwhile Szczesny, 25, who has made 25 appearances for Poland, has kept seven clean sheets in 34 appearances in all competitions whilst on loan at Serie A outfit AS Roma this term.
Winger Oxlade-Chamberlain is also said to be attracting interest from fellow Premier League rivals Chelsea, Manchester City and Manchester United, whilst Italian side Roma are increasingly unlikely to pursue a permanent deal for Szczesny this summer.
The report suggests Jurgen Klopp’s Reds could launch a whopping £40m bid for the Arsenal aces, with the winger rated at around £30m by Frenchman Wenger and the shot stopper valued at £10m.