Arsenal are set to smash their transfer record for Declan Rice. In a deal worth up to £105million ($133.4million), it will be narrowly shy of the league record as well.
Following Enzo Fernandez's move to Chelsea in January, the current league high of £106.8million ($135.7million), Rice will become the 15th £100million ($125million) plus player in the history of the game and follows a trend of expensive midfielders. Since 2021 Fernandez, Jude Bellingham, Aurelien Tchouameni and now Rice have all made major moves.
It demonstrates the demand of the market and also the talent being invested in, with all four players making the moves before their 25th birthday. At 24, Rice is the oldest of the lot by two years.
Now, with Arsenal agreeing to shatter their previous biggest fee, a forgettable and regrettable £72million ($91.4million) spent on Nicolas Pepe, it is a new era. Previously they would have been unable to land such a deal without Champions League football.
The trust put in Mikel Arteta as they continue to clear out ageing players, including key figures from the 2022/23 campaign including Thomas Partey and Granit Xhaka, has allowed for streamlined and focused spending in areas Edu prioritised. Last summer it was at left-back and striker, this year it is midfield and attack.
Rice is the priority and has been for months, football.london understands, and the Gunners are set to reap their rewards for the efforts and groundwork put in to sign Rice. As far back as January they had plotted their moves, despite making numerous bids for Moises Caicedo and also bringing in Jorginho as a stop-gap.
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The Rice deal was the real centre of attention, though, and their relentless attitude towards him is ready to pay off. Rice has agreed terms to join on a long-term contract and figures with West Ham have been ironed out. For now he is a matter of time away from becoming a statement addition to the squad.
The timing of the rise for Arsenal, who have gone from fifth to second in one season with a 15 point rise, 23 more than they achieved in 2020/21, could not have been better either. It has coincided with Rice's contract becoming a real issue for West Ham. In less than 12 months he would be able to leave for free, though an option for an extra year is available.
Considering the Hammers are looking to consolidate their position in the league and build on their Europa Conference League success, banking the Rice money is a huge bonus at this stage. It is also not the type of price that is easily turned down, especially for a player that they signed for free after he was released for Chelsea.
Although it is hard to say farewell to a player that has grown throughout six years in east London, he would be a record sale for West Ham and would also prove their astuteness in recent seasons. Chelsea had long been expected to make serious attempts to re-sign him. In 2019 they were linked with a £50million ($63.5million) move for the 21-year-old. His price then quickly shot up to £80million ($101.6million) come 2021 and fresh interest.
At the time it was seen as too big of an investment, especially for a player of his position and before the footballing world started to value midfield specialists alongside flashy attackers. Chelsea will be regretting it now, though, with his price only continuing to rise. According to transfermarkt, his estimated value was £47.2million ($60million) in 2019, around what Chelsea had him down as.
That has now risen dramatically since. At current moment he is valued at £77million ($98million) which falls below the price being paid but still demonstrates just how much his stock has gone up. Whereas Arsenal in 2019 and 2021 were not able to financially match the offers from elsewhere and lacked the footballing project to attract Rice, they have the perfect storm in 2023 and aren't going to be letting it slip.
