Arsenal and West Ham United have ironed out the finer details of Declan Rice's proposed £105m transfer, sources have confirmed to 90min.

The two clubs have been locked in negotiations over the structure of Arsenal's bid, which was broadly agreed when the Premier League runners-up agreed to pay West Ham £100m in guaranteed money plus £5m in performance related add-ons.

The 24-year-old's move will break the British transfer record set by Jack Grealish's switch to Manchester City in 2021, with the money set to provide the Conference League winners with a hefty budget this summer.

90min understands that Arsenal will pay West Ham in three separate instalments over the course of a 24-month period - something majority owner David Sullivan has been pushing since the Hammers started receiving bids.

Rice will now undergo a medical before putting pen to paper on a long-term contract which is expected to make him one of Arsenal's highest-paid players.

Manchester City had previously tabled a bid worth £90m for Rice - matching Arsenal's offer at the time - but pulled out of the running after learning of West Ham's desired timetable of payments. Manchester United and Chelsea were also interested in the defensive midfielder but never formally entered the race with an offer.

West Ham's attention will now switch to replacing Rice, who has been either the club's Player of the Year or Young Player of the Year in five of his six seasons as a first-team player. He made 245 appearances for the club, taking over as captain following Mark Noble's retirement at the end of the 2021/22 season.

Joao Palhinha, Edson Alvarez and Kalvin Phillips are three players West Ham have shortlisted as potential Rice replacements, although other targets may arise after Tim Steidten's appointment as technical director.

As for Arsenal, they have already completed a deal for Chelsea's Kai Havertz, and are also closing in on the signing of Ajax defender Jurrien Timber - a deal that would take the club's committed spending past £200m.