Arsenal transfer news: Declan Rice is nearing a move to the Emirates Stadium this summer after a £105million agreement
Manchester City entered the battle, firming up their interest with a first offer that was also rejected by the Hammers, but the two teams were closing in on the reported £100million valuation. football.london understands that Arsenal made a club-record bid for Rice on Tuesday, with other reports claiming it reached £105million.
However, the main sticking point in the deal currently appears to be over the finances that work for both parties as part of the deal. with agent Jon Smith explaining why it is so important. He told CaughtOffside: "£100million is a lot of money, even today. I wouldn’t just be writing out the cheque, I’d be wanting to cash flow it. I’d be wanting it over the five years, three years, whatever term I would want, and then David Sullivan would obviously want it on his terms.
"Then you ask the question is it really £100million or is it £80million? If he plays 30 games, there’s another £20m and so on and so on. Bear in mind every movement in this saga isn’t like you and me arguing over a car. I offer £30k and you want £33k – it’s not quite as simple as that because these are big sums and every movement of that decimal point is 10s of millions of pounds difference. That’s why it takes a little bit of time."
It remains to be seen exactly how long it will take for the two teams to reach an agreement in the coming days as the saga nears an end. However, it is also reaching a crucial stage to get the move over the line and confirmed ahead of pre-season and so the rest of the window can be planned out.