The Gunners are in a battle with Premier League champions Man City to sign Rice but remain quietly confident of winning the race.
Arsenal identified Rice as their top summer target several months ago and have tabled two offers for the England star, the last worth £90m.
But West Ham value Rice, 24, at £100m and were not only unhappy with the money on the table but also how Arsenal’s deal was structured.
Manchester City tempted West Ham with their first bid on Monday night but again, the offer worth £80m up front and £10m in add-ons was knocked back.
Since Man City’s opening bid, Arsenal have informed West Ham of their intention to return with a third offer for Rice which, according to the Daily Mail, was seen by both parties as effectively a verbal offer.
It is claimed Arsenal’s next bid will be within touching distance of West Ham’s valuation for a player who has made 245 appearances for the Hammers, many as captain.
Rice has not only emerged as West Ham’s most important player in recent seasons but also a key member of Gareth Southgate’s England squad, featuring heavily at last year’s Qatar World Cup.
More to follow…
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