Southampton full-back Calum Chambers has agreed personal terms and completed a medical with Arsenal, Telegraph reports.

The two clubs have reportedly agreed on a £16million fee, with Gunners boss Arsene Wenger believing that the high price is a ‘gamble’.

However the Frenchman deems Chambers as a player for the future and will justify his hefty price tag with his versatility.

“He can play at centre-back, right-back and central midfield,” Wenger said.

“I hope he will give us competition for the players in this three positions.

“He hasn’t played many games, no, but the English players on the market in England are very expensive and at the end of the day I was ready to take a gamble because he is a player for the future.”

The move for Chambers, 19, could cause Carl Jenkinson to leave the Emirates, with France international Mathieu Debuchy now the first-choice right-back after the departure of Bacary Sagna to Manchester City.

West Ham United are mooted to be interested in Jenkinson, with a loan-deal a high possibility.

Meanwhile the Gunners have also completed the £3.2million signing of Colombia goalkeeper David Ospina, who will give number one Wojciech Szczesny some competition.