Arsenal have signed 17 year old Alex Chamberlain from Southampton.

They've paid a reported £12 million for the midfielder which could rise to £15 million depending on appearances.

Arsenal manager Arsene Wenger said: "We are delighted that Alex has decided to join us. He is an exciting young player who will provide us with creativity and offensive quality.

"Alex is a versatile player who can play in a number of positions. He can play as an attacking centre midfielder, or wide left and right.

"Alex is a perceptive passer of the ball and has a great understanding of the game and looks to be a very good team player."

Chamberlain added: "Arsenal have a great manager in Arsene Wenger, top-quality players and an attractive style of play. These were all important factors in me choosing to sign for Arsenal."

The transfer is one of the biggest deals in the history of the Championship and sets a new club record at Southampton for a player leaving the club.