As a result, West Ham's co-chairman David Sullivan and manager David Moyes have acknowledged that Rice is likely to leave this summer to pursue his dream of playing in the Champions League. While Manchester United, Chelsea, and Bayern Munich have shown interest in Rice, Arsenal is considered the frontrunner to sign the 24-year-old during this transfer window.
It is believed that Rice has already agreed to personal terms with Arsenal, who were close to finalizing a deal for the English international at a club-record fee of £100m. Arsenal waited until after West Ham's Europa Conference League final before making their move. However, their initial bid, reported to be £80m with an additional £10m in add-ons, has been rejected by West Ham.
The report suggests that Arsenal will come back with an improved offer, as discussions took place between Arsenal's chief Tim Lewis and West Ham's vice-chairman Karren Brady during the Premier League clubs' recent annual general meeting. West Ham values Rice at around £110m, despite his contract situation.
Rice has expressed a preference for Arsenal as his desired destination for a summer move, as they can offer him Champions League football and the chance to remain in London. However, Manchester City has emerged as serious contenders for Rice's signature. West Ham is open to bids from the English champions in the hope of triggering a bidding war, which Arsenal is currently unwilling to engage in.
If Rice joins Arsenal, it could lead to the departure of Granit Xhaka, as Bayer Leverkusen is reportedly close to finalizing a £13m move for the Swiss international. However, Arsenal will not allow Xhaka to leave without securing a replacement first. Additionally, the futures of Thomas Partey and Albert Sambi Lokonga at Arsenal are also uncertain.
