The offer exceeds West Ham’s £100m valuation for the England star and, if successful, would make Rice the biggest transfer between two British clubs, eclipsing Manchester City’s £100m capture of Jack Grealish from Aston Villa in the summer of 2021.

News of the third bid comes after Manchester City’s first offer for the Hammers captain, which comprised £80m in guaranteed cash and a further £10m in add-ons, was formally turned down by the Hammers on Tuesday.

With West Ham’s valuation now met by Arsenal, it’s not yet known whether the offer has been accepted.

Since making his debut at the age of 18 in 2017, 24-year-old Rice has made 245 appearances, scoring 15 goals. He also helped the club secure the Europa Conference League last season.

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