Manchester City have withdrawn from the race to sign Declan Rice after deciding against attempting to match Arsenal’s sensational £105 million offer for the England midfielder.
City’s decision, which comes after their £90 million bid was rejected by West Ham United earlier this week, appears to clear the way for Arsenal to finally complete their move for the 24-year-old.
City have a history of walking away from deals when they go above their own valuation of a player. Since the Abu Dhabi takeover brought them power in the transfer market, they have been reluctant to get into bidding wars over targets.
Last season they were interested in Marc Cucurella at Brighton, before walking away and leaving a clear path for Chelsea to complete a £60 million deal.
Harry Maguire is another example of City standing firm. Manchester United bought Maguire for more than £80 million in 2019 and also signed Cristiano Ronaldo, Alexis Sanchez and Fred after City had looked at moves.
Arsenal and West Ham are now in advanced talks over the future of Rice, with the two clubs discussing the details of the potential transfer. It is understood that West Ham remain unhappy with the proposed structure of Arsenal’s payments.
Arsenal’s bid, submitted on Tuesday, is worth a guaranteed £100 million with a further £5 million in add-ons. The proposal would shatter the club’s transfer record and make Rice one of the most expensive players in history.
Arsenal have been confident for months that Rice wants to make the move to the Emirates Stadium and the club’s third offer is a reflection of how eager they are to rebuild their midfield around the 24-year-old.
Should a deal be agreed in which Arsenal pay a guaranteed £100 million for Rice, the midfielder’s base fee would be level with the £100 million that City paid for Jack Grealish in the summer of 2021.
Including add-ons, Rice would become the second most expensive British player of all time, behind Jude Bellingham, England teammate.
Bellingham’s recent move to Real Madrid from Borussia Dortmund could be worth £115 million if add-ons are achieved, on top of an initial fee of £88.5 million.
