Arsenal’s third bid for Declan Rice will be worth £90m plus add-ons (Picture: Getty)

Arsenal are preparing to launch a third bid for Declan Rice after West Ham rejected their first two offers, according to reports.

The Gunners’ second bid for Rice was worth £75m plus £15m in add-ons – and the north Londoners are edging closer towards the £100m figure West Ham want.

Arsenal’s opening offer for Rice came last week and was worth £80m with Mikel Arteta’s side keen to secure the signature of their No.1 transfer target.

While Arsenal remain favourites to sign the 24-year-old – their haggling risks them being gazumped by the likes of Manchester City – who also hold an interest in the midfielder.

The Daily Mail report that Arsenal will quickly return with a third bid for the England international, which will be worth around £90 plus add-ons.

Meanwhile, other reports indicate that Arsenal will not make an opening offer to sign Southampton’s Romeo Lavia until the deal for Rice is secured.

The 19-year-old only moved to Southampton last summer from the Etihad, penning a five-year contract – but after their relegation from the Premier League to the Championship – it looks set to be a swift exit from St Mary’s.

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Arsenal have held talks with Lavia and have an ‘excellent relationship’ with his camp, with the Gunners thought to have ‘concrete and strong interest’ in bringing him to the Emirates.

Lavia is one of Southampton’s most valuable assets so they want to make sure they maximise their profit when he inevitably leaves and they are thought to be demanding as much as £50m for him.

He has also attracted interest from Chelsea and Liverpool – and the Blues have already opened negotiations with Southampton over a deal.

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The third offer will be worth £90m plus add-ons…