I'm 95% sure he'll be an Arsenal player. Great sources say he's already had medical. 7-14m is the price they're negotiating. Just want to say my opinion and would like to hear your opinion on the case.

1st, for Southampton this is yet another loss, that they have to replace. Imo they've replaced already Lallana with Tadic and Lambert with Pelle, those two could be even better. Chambers is probably replaced by Clyne, who's a great player. If Schneiderlin leaves, which is highly possible, I think Cork & Wanyama can replace him. They MUST replace Shaw and 90% surely Lovren.
Positive thing is that atleast they have the money.

Now to Arsenal fans' pov. There are loads of possibilities now, because there will now be Debuchy, Jenks, Bellerin and Chambers. Here is list that are imo the options that Arsenal are going to do.

• Put Jenkinson on loan to Southampton/West Ham (I prefer So'ton) and either loan Bellerin to championship team, or keep him in u21s, and let him play few games in senior team also. Debuchy would be the 1st choice and Chambers back up.

• Convert either Jenkinson or Chambers to CB position and keep either of them as RB backup. Debuchy 1st choice

• Chambers to play also LB, cover for Gibbs. Sell Nacho, he's been poor most of the time, at times he's been great though.

• Loan Chambers back to So'ton. Basically buying now because Arsene might think he'd cost 20-30m in future?

Now lets take a look at all of the Jokes Made:

BREAKING: Liverpool are now set to put in a bid for Southampton's St Mary's Stadium. #LFC

After agreeing a deal for Dejan Lovren, Brendan Rodgers will now turn his attentions to Southampton tea lady Betty Smith.

Southampton owners looking at the first team squad back for preseason

I think it's a good move to go for Chambers and loan Jenkinson.
And kinda out of topic but Ospina joined Arsenal.

The word going around is that Wenger wants chambers to be turned into a CB. He plays CB for u20 england. He is a more defensive RB and going forward is not the best part of his game, and has the height and attributes to play as a CB. I think jenkinson will either be loaned with chambers covering for RB and CB, or will stay and Chambers will pick minutes between CB, RB and even MF. He has no experience at LB, so I don't think wenger will play him there.

I think you're really harsh on nacho, and you're not the only one, a lot of arsenal fans are the same. There is 0 reason to sell him, he's probably one of the best back up LB in the premier league. If not the best. Our LB position is very strong thanks to him, and people seem to forget that when gibbs was injured he put in a good shift. Same as the season before last, when he played from January to May ahead of gibbs, mainly because of injuries. But we all know gibbs is rather injury prone, so having a good LB ready to take the spot is essential.

@quikzyyy YES ! if the chambers deal goes through, we only really need the long awaited CM to play next to ramsey. Khedira, Schneiderlin, Carvalho, any of these three would be great. This window is going amazingly well.

Chambers agree to Arsenal move! Now it will be fun!

@quikzyyy yeah Nice's coach confirmed he's going to Arsenal, GREAT signing. Now there isn't anything to worry if Szczesny's form dips.

@kinghenry haha. I used to like him, he was always great at Malaga, and the first 6 months at Arsenal. But last season I really felt that he wasn't only poor, but really poor, for example the Southampton away game was as poor as Andre Santos used to play. I have no idea why he was such bad (imo), there could be some reasons, and maybe next season he'll really impress me, who knows:)? There's no point to sell him anyways as long as Wenger doesn't sign LB.

CDM is actually the only player we need now, true that! I actually believe eventhough Vermaelen leaves, Arsenal have enough CBs. BFG - BOSS and then Miquel, Hayden and Chambers/Jenks as backups, the 3 backups have to improve thats right! but I trust in them.
I don't watch Liga Portuguesa at all, so I decided to watch 25min of Carvalho's last season. After watching that, I have feeling that he'd suit PERFECTLY to Arsenal. I really really hope he joins, though that rumour can be bullshit too :P

@decentk after watching the red bull game, nacho was actually our best CB haha, hayden is not yet good enough and unfortunately I don't think miquel will make it into the first team. If Vermaelen leaves I think we do need another option at CB. But I stay optimistic, wenger knows what to do.

And yeah carvalho seems to be a very good fit to our team, let's hope we get him.

Yeah true @nacho. I've always had high hopes on Miquel, but it still looks like he must improve a lot. Hayden's still young, guess he must get more and more experience before he's ready, hopefully one day. It actually may be too huge risk to let them be backups. Maybe Arsenal should get someone there, I'd take Nastasic anyday, well that rumour is probably bullshit too. But like you said, I really believe Wenger knows what to do ;-)

Shaw is not that much better than Chambers.

Don't forget we are in 5 competitions (5th is Community Shield). If 2 our defenders will be injured (which will probably happen at some stage), Jenkinson to backup RB, Chambers to backup CB, Monreal to backup LB, although every time he played I was scared when opponents were attacking on his side. If he improve then we have solid backups, but without any experience..