Arsenal are now "willing to go over £100 million" for long-term transfer target Declan Rice, claims journalist Graeme Bailey.
The West Ham United captain has been linked to the north London club for months, but Bailey now understands they are willing to break their transfer record to secure the deal.
Arsenal transfer news – Declan Rice
The first rumblings of a potential deal to bring Rice to the Emirates emerged in the closing days of the January transfer window, and since then, the murmurings have turned into a constant stream of updates and rumours.
It now looks as if that might be coming to an end as the Gunners are preparing to offer the east London club a deal in excess of £100m if certain add-ons are met to secure the services of their player, per the Guardian.
Mikel Arteta's side weren't the only ones interested in the "destroyer", as labelled by ex-Tottenham Hotspur keeper Paul Robinson, with Chelsea and Bayern Munich linked with the player.
However, the Premier League runners-up look to be in a strong position to land the midfielder with Chelsea offering "no indication" that they will prioritise Rice.
What has Graeme Baily said about Arsenal's pursuit of Declan Rice
Bailey gave a promising update to Arsenal fans that the club was now willing to reach the asking price requested by West Ham.
Speaking on the Talking Transfers Podcast, Bailey said: "Arsenal has been his first choice for quite a while, and he doesn't want to leave London. It's a straight choice between Arsenal and Chelsea, really, and Arsenal are willing to go over £100 million for him now. That's our understanding.
"West Ham have always demanded that, and they're getting the breakthrough. I think it's a spectacular deal for West Ham."
Bailey gave his opinion on the deal, adding: "I like him, but I don't think he's a £100 million footballer, but if he's the player you want, Arsenal, you pay. If he can take you to that next level, you pay it, and I think they're getting very close to doing so."
How much is Declan Rice earning at West Ham, and what will he likely make at Arsenal
According to Spotrac, the Kingston-upon-Thames-born midfielder is currently on the relatively modest sum of £60,000-a-week in east London.
He had reportedly turned down an eight-year contract worth around £200,000-a-week two years ago to keep his options open for a move.
He would've lost around £14.5m worth of wages in the two years since.
However, the decision not to sign has paid off, as any move to the Gunners will likely result in him becoming one of their highest-paid players.
The current best-paid player at the north London club is Bukayo Saka, who is on an estimated £300,000-a-week.
With such a big-money move potentially on the cards for Rice, surely the big wages would come with a possible move to the Emirates.