West Ham are yet to accept a bid worth up to £105 million from Arsenal, which may complicate the chances of Mikel Arteta landing his man.
The England international midfielder had been expected to leave West Ham this summer after landing the Europa Conference League in the last game of their season.
Given Rice is 24-years-old and is not out of contract until 2025 - should the Hammers exercise another year on his contract - West Ham are in a relatively strong position to bargain.
Their demands are stronger because as well as Arsenal, Manchester United, Manchester City and Chelsea are all credited with an interest in the player, meaning that Rice’s current employers may be happy to start a bidding war.
On Tuesday night, several outlets claimed that Arsenal had offered a deal worth £105m to West Ham as they attempted to secure the player’s signature.
However, West Ham are yet to accept the terms of the deal.
It is reported that West Ham would receive £100m, with the remainder in undisclosed add-ons. However the sticking point for West Ham is the structure of the deal, and how much money would be paid up-front.
Given West Ham struggled in the Premier League last season and would need to replace Rice, they would understandably be keen on receiving as much of the transfer fee immediately in order to give David Moyes a decent budget to make his own signings.
Manchester City boast deeper pockets than Arsenal, and this could give them the chance to offer better terms. However reports emerged this morning that Pep Guardiola has now pulled out of the race.
There is an outside chance that United’s rumoured offer of Scott McTominay and Harry Maguire alongside some cash could give Moyes the new players he wants.