Arsenal have to cover the transfer fee of £100 million as a final bid and if West Ham still doesn't want to, Arsenal will have to forget about the figure of Declan Rice.
I don't know why West Ham are valuing Declan Rice this high, the transfer fee is absolutely outrageous and i don't even think Rice is worth half of the money West Ham are requesting. It has become the norm with English players, the likes of Jack Grealish, Jude Bellingham and others who were sold for an outrageous amount of money.
Declan Rice wants to move to Arsenal, and for now they are the only team that have sent a bid (2 bids actually) to West Ham, though the bids were rejected, i think Arsenal are going to make one last bid for Declan Rice and i expect West Ham to accept it, or else another team might join in the race to sign him.