West Ham is yet to receive the necessary paperwork to finalize the transfer of Declan Rice to Arsenal, despite the agreement being made eight days ago. The Hammers are growing more frustrated with the ongoing delay.
An insider told We News, "I have never witnessed a saga like this."
Despite this, West Ham maintains their expectation of finalizing the deal on Friday, while Arsenal aims to conclude their record-breaking signing before departing for a pre-season tour in the US on Sunday.
Delays in paperwork by Arsenal's lawyers are causing the hold-up. West Ham believes that Rice has successfully completed his medical with Gunners and has been consistently training during his holiday in Portugal.
The deal comprises an initial payment of £100m with an additional £5m in add-ons, surpassing Arsenal's previous record purchase of Nicolas Pepe from Lille for £72m in 2019. Rice's signing falls slightly short of the British transfer record, established by Chelsea in January, when they paid Benfica £106.8m for Enzo Fernandez.
On Friday, Arsenal completed the signing of Jurrien Timber for £38m. Timber has agreed to a five-year contract. Arsenal initially paid £34m, with the remainder of the fee dependent on performance-related add-ons.
Moyes: West Ham cannot buy until Rice is sold
West Ham manager David Moyes emphasizes that the Hammers' ability to pursue new signings is contingent upon the completion of the Rice deal."I've just been listening to Sky and taking the news from Sky - you seem to know more about it than me and getting the news quicker than I'm getting!" said Moyes.
We cannot make any definite plans until the task is completed. We will observe the unfolding events and respond accordingly. The current situation is well-known to everyone as we anticipate an occurrence.
Replacing Declan with an identical counterpart seems unlikely to be possible. However, we will gradually enhance our team by incorporating new members. We will refrain from disclosing any specific names or strategies at this point.
'Nothing to worry about for Arsenal fans'
The Athletic's David Ornstein discussing Back Pages Tonight on We News confidently states that the situation regarding Rice is essentially finalized and settled. Arsenal fans can rest assured as there are no reasons for them to worry.The Gunners are set to make a groundbreaking investment of £100m, with an additional £5m in add-ons. While the specifics of the payment structure have been ironed out, the announcement of such a monumental deal may take some time.
There are numerous aspects of the deal that need to be addressed, but as far as I know, everything is progressing as planned. The final stages are being worked on, and soon everyone will receive the long-awaited announcement they have been anticipating.
What Rice adds to Arsenal and where he fits...
Arsenal received further confirmation of Declan Rice's potential during their match against West Ham in April. Despite being two goals ahead and on track for a victory, Rice's quick thinking altered the course of the game. This incident has strengthened Arsenal's resolve to secure his signature as their record signing.
Rice sprinted towards Kieran Tierney as he prepared to deliver a pass to Thomas Partey in the depths of the Arsenal half. With impeccable timing, Rice swiftly intercepted, gaining possession and swiftly advancing into the box. From there, he skillfully located the charging Lucas Paqueta.
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How Declan Rice compares to Arsenal's midfielders
The subsequent penalty, awarded to Paqueta and successfully converted by Said Benrahma, swung the game's momentum in favor of the opposing team, Arsenal. This shift may have even affected the outcome of the title race. Importantly, it all began with Rice.
This particular sequence of play showcased a multitude of Rice's enticing qualities, which undoubtedly catch Arsenal's attention. These include his ability to anticipate and identify scoring opportunities, his impressive combination of speed and strength in securing possession, as well as his calmness in creating scoring opportunities for his teammates and ultimately drawing the penalty.
Where does Rice's transfer fee rank?
Jude Bellingham broke the record for the highest transfer fee paid for an English player, as he made a remarkable £115m transfer from Borussia Dortmund to Real Madrid at the beginning of this month.
Following closely behind is Rice, who became the second most expensive English player ever, with a price tag of £5m more than Jack Grealish's £100m move to Manchester City in August 2021.
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It would also be only the third time an English club has paid over £100m for a player.
Explained: How Arsenal can afford big-money summer signings
Football finance expert Kieran Maguire says Arsenal's seemingly enhanced willingness to spend is a "reward" for Mikel Arteta."Arsenal are actually in a very strong position when it comes to spending," he told We News.
"The reason for that is they have managed to get their wages under control.
Arsenal's current wages are significantly lower compared to 2018, with a difference of £150m to £170m less than top contenders Liverpool, Manchester United, and Manchester City. This financial advantage has allowed Arsenal to freely participate in the market and make new player acquisitions without excessive concern.
Additionally, Arsenal benefits from participating in Champions League matches, which bring in substantial revenue from premium ticket prices and a minimum prize money of £50m.
When considering all these factors, it is likely that they still have some flexibility in terms of their spending during the current transfer window."
When questioned about a potential change in strategy at Arsenal, he acknowledged, "Indeed, there was a period of retrenchment. They experienced several years of not qualifying for the Champions League."
By removing high-earning players like Mesut Ozil and Pierre-Emerick Aubameyang from their payroll, Arsenal has achieved the freedom to actively compete in the market and rival other clubs. Historically recognized as the Bank of England club, Arsenal has consistently managed its finances effectively. This shift in spending reflects Mikel Arteta's success in guiding the team to secure Champions League spots, which significantly boosts revenue and serves as a reward.
