Arsenal and West Ham United agree on £105m fee for Declan Rice

Manchester City withdrew from the race earlier today

David Ornstein, a transfer specialist, reported that Arsenal and West Ham United have reached an agreement for Declan Rice to be acquired for £105 million.

Representatives from both teams were engaged in advanced negotiations on Wednesday after submitting their third offer, which included £100 million in guaranteed cash and an additional £5 million in bonuses.

The goal of the meetings was to work out the final elements of the deal's framework. The guaranteed component of the sum was to be paid over four years, according to Arsenal's proposal.

By the beginning of 2025, West Ham would prefer to receive the money in two instalments.

The two clubs are now focusing on reaching a compromise rather than wrangling over the cost, and the problem has been characterised as trivial and not a point that will cause the deal to fall through.

Following Arsenal's massive proposal for Rice, Manchester City decided to withdraw from the battle, which considerably improved the Gunners' position.

West Ham turned down City's £90 million offer on Tuesday, and the Treble champions decided on Wednesday not to match Arsenal's offer.

On the morning of Wednesday, West Ham learned that Rice intended them to consent to Arsenal's £105 million offer, which was another major development.

Rice is committing to an extended agreement paying at least £250,000 per week, so formalising personal terms won't be a problem. Rice has always preferred Arsenal over City, despite City's belated pursuit of signing him.

His dream to play for the Gunners, whose head manager Mikel Arteta sees him as a potential captain, will finally come true.

This will be a statement signing from the North Londoners, his addition will immediately influence their midfield the former Chelsea academy player is a versatile midfielder who can operate as 6 and 8.

He is expected to play alongside Martin Odegaard and Kai Havertz in Arsenal's heart of midfield and the trio will hope to dovetail to form a dominant midfield.