Arsenal have communicated their intention to West Ham to make a third formal offer for Declan Rice, which will move them closer to his £100million valuation.
Manchester City's first formal offer of £90m - comprising of £80m in guaranteed cash and a further £10m in add-ons, for Rice was turned down by the Hammers on Tuesday.
Having seen two bids rejected, their most recent an offer of a certain £75m plus a further £15m in bonuses, Arsenal are now understood to have informed the Hammers hierarchy they are returning with an improved formal bid - in what is effectively viewed as a verbal offer.