West Ham have rejected a bid of £90m from Manchester City for captain Declan Rice.
City’s offer was thought to have included an £80m initial payment but is short of the £100m the Hammers want.
Arsenal are expected to make a third bid for the 24-year-old England midfielder.
The Gunners’ second proposal of an initial £75m in four payments, plus £15m in add-ons, was turned down by West Ham last week.
Rice’s contract with the Hammers expires in 2024, although it has the option for a one-year extension until the summer of 2025.