In the latest Declan Rice transfer update, Arsenal have come back to West Ham with an offer worth £105million for their skipper as Manchester City have reportedly pulled out of negotiations.
Arsenal have launched a third bid for West Ham midfielder Declan Rice, this time in a deal worth £105million, in what would be a record-breaking signing for the Gunners.
If the Hammers were to accept the offer, it would smash Arsenal’s current transfer record of £72million – which they paid for Nicolas Pepe back in 2019.
However, as it stands, it looks as if West Ham won’t be agreeing to the deal in its current form.
Sky Sports News are reporting that the deal breaks down as an initial £100million fee, with a further £5million in performance related add-ons.
Furthermore, the Daily Mail claim that West Ham want the initial fee paid in full by the start of 2025, preferably in two instalments, whilst Arsenal are looking to pay the fee over a five-year period.
Negotiations between the pair are expected to continue over the structure of the deal, as they look to reach an agreement over the 24-year-old’s transfer.
And now, football transfer expert Fabrizio Romano is reporting that Manchester City will not match the Gunners’ bid and have pulled out of the race.
Arsenal are working on the structure of the deal after £100m plus £5m add ons official bid submitted on Tuesday night for Declan Rice. 🚨⚪️🔴 #AFC
Arsenal and West Ham, in contact to discuss payment terms, installments and more details.
Manchester City have LEFT the race. pic.twitter.com/qG5TE3Fh9x
— Fabrizio Romano (@FabrizioRomano) June 28, 2023
READ MORE: Arsenal Close In On Second Summer Signing With Improved £50m Bid For Jurrien Timber
Arsenal have already seen two bids for Rice rejected in this window, whilst Manchester City were also interested in signing the England international.
City submitted an offer worth £80million up front, plus a further £10million in add-ons on Monday evening, however this was short of West Ham’s valuation of the player.
And seemingly now, after their withdrawal from the race for his signature, the Gunners have a free run in the race to sign the Europa Conference League winner.
It is understood that Rice’s preferred destination would be Arsenal, which would see him remain in the English capital beyond this summer.
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