Declan Rice would still prefer an Arsenal move despite the Gunners' early setback in their pursuit of the West Ham captain.
An initial bid from Mikel Arteta's side has been knocked back by the Hammers, who are understood to be holding out for more than £100m. England midfielder Rice has played more than 200 Premier League games for his current club, and took over as official captain following Mark Noble's retirement in 2022.
While Bayern Munich appear to have dropped out of the race for the 24-year-old, Arsenal won't have a free run at their target. Manchester City are also said to be exploring a move, though the player's preference appears to be clear.
According to The Guardian, a move to Arsenal remains Rice's favoured outcome. The former Chelsea academy talent is keen to stay in London, while he is reportedly a fan of Mikel Arteta's playing style at the Emirates Stadium.
The England international has also met with Pep Guardiola, with City already having a number of Three Lions stars on their books. However, the same report notes that Rice would be more likely to become a guaranteed starter at Arsenal.
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City's situation is complicated by the fact that Ilkay Gundogan could free up a space in the squad by leaving this summer, though progress has been made on efforts to sign Chelsea's Mateo Kovacic. The Guardian also notes that fellow central midfielder Kalvin Phillips - targeted by West Ham when he was still at former club Leeds - could be included as part of a bid for Rice.
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Rice is unlikely to be Arsenal's only summer signing if he does end up completing the move. The Gunners are also making progress on a deal for Kai Havertz, who is expected to cost around £60m, though January target Moises Caicedo now looks unlikely to sign.
Brighton midfielder Caicedo was pursued by the Gunners last term, only to instead sign a new deal with the Seagulls. Roberto De Zerbi's side are now holding out for a reported £120m, which looks to be too steep for Arteta's side.
If Rice does opt to move across London, he will have to wait until Boxing Day for a reunion with his former team-mates. The fixture calendar has thrown up a repeat of Arsenal and West Ham's meeting from last season, when the Gunners came from behind to win on their return from the World Cup break.
Arsenal will begin the new campaign at home to Nottingham Forest, the team who ended their title dream last season. London derbies against Crystal Palace and Fulham will follow, before a tricky run of autumn fixtures.
