When Rice recently followed in the footsteps of West Ham greats Bobby Moore and Billy Bonds to end the team’s 43-year wait for a significant trophy, the Premier League champions were ready to compete with Arsenal for his services.
After extensive negotiations between the two clubs, it is anticipated that a third offer will be submitted soon. Arsenal has previously had two bids rejected by West Ham, the most recent of which included £75 million in guaranteed money and £15 million in add-ons.
However, City has now attempted to outdo Arsenal by submitting a formal offer of their own, worth £80 million in guaranteed compensation plus a further £10 million in potential add-ons.
Rice, 24, has expressed a desire to play in the Champions League and regularly compete for trophies, and West Ham’s majority owner David Sullivan has publicly acknowledged that Rice will likely leave the club this summer. However, reports indicate that a transfer will not take place unless a club is willing to pay upwards of £100m.
While City’s offer is understood to offer West Ham a larger sum of money up front than Arsenal’s, which was structured to make payments over several years, it falls short of that amount.
Rice has almost two years left on his contract because West Ham has the option to extend it into the summer of 2024, and he has grown into one of the most sought-after players in European sport. A 14-year-old player released from the latter’s academy caught the attention of Manchester United, Bayern Munich, and Chelsea.
The bid from City has not yet received a response from West Ham, and sources have confirmed that Kalvin Phillips is not included in any manner. The England international, who cost £42 million to replace Rice, has struggled to earn regular playing time at the Etihad Stadium. Several players are being considered to take Rice’s spot.