Arsenal and West Ham are working to finalize the structure of a £105 million deal for midfielder Declan Rice after Manchester City withdrew from the bidding war for the England international's services.
On Monday night, Arsenal raised the stakes dramatically with an offer worth a guaranteed £100 million with a further £5 million in add-ons. In comparison with their first two offers, this was not immediately rejected by West Ham, who instead want the deal to be structured over the next two years. The Hammers also hoped that City would return to the table after their offer worth up to £90 million was rejected.
However, City have opted to exit the race, giving the Gunners a clear path to securing Rice's services. Personal terms would not be an issue; Arsenal's charm offensive over recent months has certainly paid dividends with the 24-year-old's priority having long been understood to be a move across London. CBS Sports first revealed in January that Rice was favoring a move to Arsenal and that he was impressed by the work done by Mikel Arteta to revitalize the club. For their part, Arsenal view Rice as a cornerstone of their push for a Premier League title, the midfield pivot who will be tasked with breaking up opposition play and setting the tempo for his teammates.
With no rival suitor in the mix, West Ham's ability to call the shots in negotiations has been significantly curtailed, though they will ultimately be delighted to secure a fee that will make Rice the most expensive British player in history. Rice had made no secret of his desire to take the step up to a Champions League club and after he had led West Ham to the Europa Conference League title, West Ham chairman David Sullivan confirmed that he was prepared to let his club captain depart.
Rice's arrival would obliterate Arsenal's previous transfer record, the £72 million they paid for Nicolas Pepe in the summer of 2019, as last season's runners-up bid to close the on-field gap to Manchester City. A £65 million deal for Kai Havertz is set to be announced imminently while there is optimism at the Emirates Stadium over a breakthrough in the coming days as they pursue Ajax defender Jurrien Timber.
For their part, City have held firm in their policy of not overpaying even for talent they want, as proven in cases such as Marc Cucurella, Jorginho and Kalidou Koulibaly. Pep Guardiola's side have already secured Mateo Kovacic to replace the outgoing Ilkay Gundogan. It is believed the finances would have been available to surpass Arsenal's offer, which itself would have meant breaking City's own transfer record, the £100 million they paid for Jack Grealish in the summer of 2021.
