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.
If Arsenal third and the final bid is rejected by West Ham I think the best bet for the club is to switch over to Brighton and bid for Moises Caicedo with a lesser fee whom I believe is an alternative to Declan Rice, the first bid of 75M with payment in four instalment was rejected because West Ham wanted more than 100m with instant payment, Arsenal increased their bid to 90m which I believe is a very reasonable price yet West Ham turned down the offer, I think Man City is closely monitoring the situation probably the club will table a better offer to lure him to their team, it obvious sign on fees of English players tends to be very high I don't know why it has become a norm in EPL.