The north London giants are long-term admirers of the England international and they are expected to make a formal bid soon.

According to talkSPORT, Manchester United are also keeping tabs on Rice, but Arsenal are pretty positive over their pursuit.

The club have already held tentative talks with the player's agent and personal terms could be a formality if a transfer fee is agreed.

West Ham currently value the 24-year-old at around £120 million, which is way higher than the Gunners' expectation of £90m.

Nonetheless, there is plenty of optimism from the Gunners' end that a deal could be finalised with the Hammers for their captain.

Rice has a preference to continue in the English capital. Chelsea are no longer an option due to the lack of Champions League football.

Bayern Munich are also interested in his services, but the midfielder is quite clear that he does not want to move abroad this summer.

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