Arsenal have officially announced the signing of Declan Rice from West Ham United, more than a week after the two clubs came to a full agreement on the fee and payment structure of the midfielder’s transfer.
The Gunners originally agreed a fee of £100m plus £5m in add-ons with West Ham all the way back in June, but it took a while to iron out all the details.
Rice’s former club wanted the guaranteed fee paid in as few instalments as possible, and the two clubs eventually agreed on payment terms on July 4th.
In the end, Arsenal will pay the £100m fee in three instalments over 24 months.
The 24-year-old made 50 appearances for West Ham and 11 appearances for England over the last 12 months.
Declan Rice arrives in North London as the club’s third summer signing, following Kai Havertz and Jurrien Timber, taking the club’s spending past the £200million mark, with Arteta looking to mount another title challenge next term.
Mikel Arteta’s side will play in next season’s Champions League after finishing runners-up to Premier League champions Manchester City, who had a £90m offer turned down for Rice before Arsenal succeeded with their third bid for him.