West Ham haven’t yet accepted Arsenal’s bid of £105m for Declan Rice, but Manchester City have pulled out of the race.

David Ornstein reported for The Athletic on Tuesday night that Arsenal had submitted a huge bid of £100m plus £5m in add-ons for West Ham United midfielder Declan Rice.

Reports quickly broke that West Ham hadn’t yet accepted the bid, as they continue to push for more favourable payment terms. But there was a positive update on Wednesday morning, as Manchester City withdrew from the race.

Jack Gaughan of the Daily Mail first reported that Arsenal’s £105m bid had seen City pull out of the race, and this was then confirmed by Simon Bajkowski of the Manchester Evening News, Rob Dawson of ESPN, and Simon Stone of the BBC.

There’s seemingly no possibility of City reentering the race at the current price, so the situation is entirely down to Arsenal and West Ham to resolve.

Fabrizio Romano reports that Arsenal are working on the structure of their deal, and they’re in contract with Arsenal to discuss payment terms, instalments, and other details.

Once again, Romano confirms that City have left the race for Rice.

Manchester United were also touted with an interest in Rice throughout the saga, but they were never viewed as serious competition for Arsenal.

Unless that changes, the transfer saga has seemingly become a one-horse race, as West Ham no longer have any other offers on the table.

Various other sources such as The Telegraph, the Evening Standard, and the Daily Mail have confirmed that the payment structure is the primary obstacle to a deal at this stage.

But there’s reportedly “a deal to be done” between the two clubs, with negotiations continuing.

Arsenal want to pay the guaranteed fee over a five-year period, whilst West Ham want it paid by the start of 2025. They’ll now try to figure out a compromise.