The deal, if accepted, would not only smash Arsenal's all-time transfer record, but become the British transfer record - surpassing what Manchester City paid Aston Villa for Jack Grealish in 2021.
The Gunners have been leading the chase for Rice all summer, but have seen two bids rejected with the last worth up to £90m. West Ham have been demanding more than £100m for the duration of negotiations.
Manchester City also lodged an offer worth £90m earlier on Tuesday, which was also rejected by West Ham. ThougH Arsenal have returned with a third offer and they are hopeful that West Ham will accept.
The offer on the table is worth £105m in total, with £100m guaranteed and an additional £5m in add-ons.
Arsenal are working quickly to give Mikel Arteta the squad he needs to mount another title challenge in 2024 and they already close to securing deals for Chelsea's Kai Havertz and Ajax's Jurrien Timber, who between them are likely to cost over £100m.
That figure could soon become north of £200m in a matter of days if West Ham accept the offer for Rice.
Rice has already agreed personal terms with Arsenal, having made it clear to all parties that a move to the Emirates was his preferred move this summer.
#Arsenal #WestHam #DeclanRice #FootballTransfers #BritishTransferRecord #FootballNews #ManchesterCity #MikelArteta #KaiHavertz #JurrienTimber #PremierLeague
