Arsenal FC have agreed a £105million fee with West Ham for the signing of Declan Rice.
The two clubs are in the process of trying to resolve payment terms.
Manchester City pulled out of the race to sign Rice on Wednesday following Arsenal’s improved bid worth up to £105m ($133m).
City had matched Arsenal’s £90million proposal, offering an increased sum up front, only for both bids to be rejected.
But Arsenal returned on Tuesday evening with an initial fee of £100m and an extra £5m in add-ons.
Arsenal upped their bid to try and secure manager Mikel Arteta’s top summer target.
It will be a premier league record fee for a British player if the move materialises.
Rice’s contract at West Ham expires in 2024, with an option for a one-year extension.
But West Ham chairman David Sullivan said after the club’s Europa Conference League triumph that he expected the England international to have played his last game for the club, adding that he “wanted to go”.
Rice has made 245 appearances for West Ham since making his debut in 2017.